Drake & Associates LLC Has $453,000 Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Drake & Associates LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 25.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 775 shares of the aerospace company’s stock after buying an additional 158 shares during the quarter. Drake & Associates LLC’s holdings in Lockheed Martin were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in shares of Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares during the last quarter. Legal & General Group Plc raised its position in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares during the period. Wulff Hansen & CO. grew its position in shares of Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares during the period. Institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Barclays upped their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $597.92.

Lockheed Martin Trading Down 0.5 %

Shares of Lockheed Martin stock opened at $609.69 on Friday. The stock has a market capitalization of $146.29 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62. The stock has a 50 day moving average price of $577.08 and a two-hundred day moving average price of $509.17. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the firm posted $6.73 EPS. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Lockheed Martin Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.