Fiduciary Family Office LLC Acquires New Shares in Lockheed Martin Co. (NYSE:LMT)

Fiduciary Family Office LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 993 shares of the aerospace company’s stock, valued at approximately $580,000.

Other hedge funds also recently modified their holdings of the company. Stokes Family Office LLC acquired a new position in Lockheed Martin during the 1st quarter worth about $425,000. Norden Group LLC lifted its holdings in Lockheed Martin by 96.0% during the 1st quarter. Norden Group LLC now owns 1,186 shares of the aerospace company’s stock worth $540,000 after buying an additional 581 shares during the period. Central Pacific Bank Trust Division acquired a new position in Lockheed Martin during the 1st quarter worth about $251,000. Larson Financial Group LLC lifted its holdings in Lockheed Martin by 233.6% during the 1st quarter. Larson Financial Group LLC now owns 387 shares of the aerospace company’s stock worth $176,000 after buying an additional 271 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Lockheed Martin by 1.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,904 shares of the aerospace company’s stock worth $866,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LMT. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Susquehanna dropped their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. TD Cowen boosted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Up 0.7 %

NYSE:LMT opened at $546.65 on Wednesday. The company has a market cap of $129.58 billion, a P/E ratio of 19.79, a P/E/G ratio of 4.46 and a beta of 0.49. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock’s fifty day moving average price is $578.67 and its two-hundred day moving average price is $520.06. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.77 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 47.79%.

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.