Keynote Financial Services LLC Invests $761,000 in Lockheed Martin Co. (NYSE:LMT)

Keynote Financial Services LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,673 shares of the aerospace company’s stock, valued at approximately $761,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Pacific Financial acquired a new position in shares of Lockheed Martin during the first quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in Lockheed Martin during the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC lifted its stake in 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 during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the first quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. purchased a new stake in Lockheed Martin during the first quarter worth approximately $38,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America upgraded Lockheed Martin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $465.00 to $635.00 in a research note on Wednesday. Susquehanna boosted their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $526.77.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $0.09 during trading hours on Friday, hitting $548.77. 1,484,756 shares of the company were exchanged, compared to its average volume of 1,127,651. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $561.12. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The business has a 50-day moving average of $476.89 and a 200-day moving average of $456.78. The stock has a market capitalization of $130.80 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the business earned $6.73 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

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.