Lane & Associates LLC Acquires New Stake in Lockheed Martin Co. (NYSE:LMT)

Lane & Associates LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 351 shares of the aerospace company’s stock, valued at approximately $205,000.

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

Wall Street Analyst Weigh In

LMT has been the topic of several recent research reports. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. 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. Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

LMT opened at $542.22 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business has a fifty day simple moving average of $573.12 and a 200 day simple moving average of $527.36. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market capitalization of $128.53 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49.

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

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. 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. This represents a $13.20 annualized dividend and a dividend yield of 2.43%. Lockheed Martin’s dividend payout ratio (DPR) 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.