Coastwise Capital Group LLC Takes $344,000 Position in Lockheed Martin Co. (NYSE:LMT)

Coastwise Capital Group LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 589 shares of the aerospace company’s stock, valued at approximately $344,000.

Several other hedge funds have also recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at about $32,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC lifted 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 worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin during the 3rd quarter worth $40,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen lifted their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $529.41 on Monday. The business has a 50 day simple moving average of $568.75 and a 200 day simple moving average of $529.80. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a market capitalization of $125.49 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.49. 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 issued its quarterly earnings data 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. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 earnings per share. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.49%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.