Spirit of America Management Corp NY Purchases 100 Shares of Lockheed Martin Co. (NYSE:LMT)

Spirit of America Management Corp NY grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 15.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 750 shares of the aerospace company’s stock after purchasing an additional 100 shares during the period. Spirit of America Management Corp NY’s holdings in Lockheed Martin were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC lifted its holdings 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 purchasing an additional 17 shares during the last quarter. Quad Cities Investment Group LLC lifted 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 valued at $919,000 after buying an additional 19 shares in the last quarter. HTLF Bank grew its holdings in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares in the last quarter. tru Independence LLC grew its position in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares in the last quarter. Finally, Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on LMT. Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Robert W. Baird boosted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Finally, Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Stock Down 1.2 %

Shares of NYSE:LMT opened at $564.21 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market capitalization of $135.38 billion, a P/E ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a 50-day simple moving average of $579.95 and a 200-day simple moving average of $513.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm 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 95.03% and a net margin of 9.48%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 EPS. Equities analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

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.