Argonautica Private Wealth Management Inc. Acquires 27 Shares of Lockheed Martin Co. (NYSE:LMT)

Argonautica Private Wealth Management Inc. lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,555 shares of the aerospace company’s stock after purchasing an additional 27 shares during the period. Lockheed Martin accounts for about 1.1% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 21st biggest position. Argonautica Private Wealth Management Inc.’s holdings in Lockheed Martin were worth $3,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burkett Financial Services LLC bought a new position in Lockheed Martin in the third quarter worth approximately $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its holdings in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the first quarter worth approximately $30,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $0.70 during mid-day trading on Friday, hitting $545.35. The company had a trading volume of 792,756 shares, compared to its average volume of 1,055,430. The company has a market capitalization of $129.27 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 4.47 and a beta of 0.47. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s 50-day moving average price is $579.25 and its 200-day moving average price is $517.98.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.77 earnings per share. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. Lockheed Martin’s payout ratio is 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.