Joule Financial LLC Buys New Position in Lockheed Martin Co. (NYSE:LMT)

Joule Financial LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 418 shares of the aerospace company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC raised its holdings in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the last quarter. Quad Cities Investment Group LLC raised its stake in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during the last quarter. HTLF Bank lifted its position in Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after acquiring an additional 20 shares during the period. tru Independence LLC grew its stake in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the last quarter. Finally, Sachetta LLC increased its holdings 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. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by company insiders.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $0.42 on Friday, reaching $609.20. The company’s stock had a trading volume of 125,344 shares, compared to its average volume of 1,043,519. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $614.62. The company has a market capitalization of $146.17 billion, a P/E ratio of 22.31, a PEG ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a 50-day moving average price of $577.08 and a 200-day moving average price of $509.17.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the prior year, the business posted $6.73 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current 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 issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.17%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 48.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group upped their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price target on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $597.92.

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.