New England Asset Management Inc. Acquires 175 Shares of Lockheed Martin Co. (NYSE:LMT)

New England Asset Management Inc. grew its stake in Lockheed Martin Co. (NYSE:LMT) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 18,060 shares of the aerospace company’s stock after acquiring an additional 175 shares during the quarter. Lockheed Martin makes up approximately 1.6% of New England Asset Management Inc.’s investment portfolio, making the stock its 10th biggest position. New England Asset Management Inc.’s holdings in Lockheed Martin were worth $10,557,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LMT. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC increased its stake in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC lifted its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Stephens Consulting LLC boosted its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research reports. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. UBS Group lifted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

NYSE LMT opened at $530.96 on Tuesday. The company has a fifty day moving average of $575.61 and a two-hundred day moving average of $525.71. The company has a market capitalization of $125.86 billion, a PE ratio of 19.22, a P/E/G ratio of 4.37 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 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 (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 EPS. As a group, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.49%. Lockheed Martin’s payout ratio is currently 45.62%.

About Lockheed Martin

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.