2,000 Shares in Lockheed Martin Co. (NYSE:LMT) Bought by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the third quarter, HoldingsChannel reports. The fund bought 2,000 shares of the aerospace company’s stock, valued at approximately $1,169,000. Lockheed Martin comprises 2.3% of Firsthand Capital Management Inc.’s portfolio, making the stock its 16th largest position.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC increased its stake in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. increased its position in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 18 shares during the period. Sunburst Financial Group LLC lifted its position in Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC boosted 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 purchasing an additional 19 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on LMT. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird upped their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Up 0.7 %

LMT opened at $529.41 on Friday. The stock’s fifty day simple moving average is $568.75 and its 200 day simple moving average is $528.91. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The stock has a market cap of $125.49 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued 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 company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 earnings per share. As a group, research analysts expect that Lockheed Martin Co. will post 26.94 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

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.