Goldstream Capital Management Ltd Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Goldstream Capital Management Ltd bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, HoldingsChannel.com reports. The firm bought 1,727 shares of the aerospace company’s stock, valued at approximately $1,010,000. Lockheed Martin accounts for approximately 0.3% of Goldstream Capital Management Ltd’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP lifted its stake in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LMT. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Down 0.9 %

LMT opened at $513.04 on Friday. The firm has a market capitalization of $121.61 billion, a P/E ratio of 18.57, a PEG ratio of 4.22 and a beta of 0.46. 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 Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company’s 50-day moving average is $563.89 and its 200 day moving average is $530.36.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.94 earnings per share 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. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.57%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

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.