Baker Avenue Asset Management LP Purchases 798 Shares of Lockheed Martin Co. (NYSE:LMT)

Baker Avenue Asset Management LP lifted its position in Lockheed Martin Co. (NYSE:LMT) by 130.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,411 shares of the aerospace company’s stock after purchasing an additional 798 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Lockheed Martin were worth $825,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the second quarter valued at about $27,000. Sachetta LLC raised its position in Lockheed Martin by 50.0% during 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 in the last quarter. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the first quarter valued at about $30,000. Finally, Stephens Consulting LLC raised its position in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 1.1 %

NYSE LMT opened at $570.58 on Tuesday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $135.25 billion, a PE ratio of 20.77, a PEG ratio of 4.62 and a beta of 0.49. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The business’s 50-day moving average is $578.06 and its 200 day moving average is $522.08.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 business had revenue of $17.10 billion for 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 business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.31%. 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 payout ratio is presently 45.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LMT shares. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

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.