Essex LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Essex LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, HoldingsChannel reports. The fund acquired 429 shares of the aerospace company’s stock, valued at approximately $251,000.

A number of other institutional investors also recently modified their holdings of LMT. CVA Family Office LLC raised its position in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. Quad Cities Investment Group LLC increased its stake in Lockheed Martin by 1.2% during the third 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 raised its position in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC lifted its stake in shares of Lockheed Martin by 2.5% in 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 boosted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. 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. Finally, Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $597.92.

Lockheed Martin Stock Up 0.4 %

Shares of NYSE LMT opened at $611.81 on Friday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $614.62. The firm has a market capitalization of $146.80 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 4.84 and a beta of 0.47. The stock has a 50 day moving average price of $578.29 and a 200 day moving average price of $510.67. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share 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 period in the prior year, the business earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.16%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.