Garden State Investment Advisory Services LLC Makes New $211,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Garden State Investment Advisory Services LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 361 shares of the aerospace company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Coastwise Capital Group LLC acquired a new position in shares of Lockheed Martin in the third quarter worth about $344,000. Benjamin Edwards Inc. boosted its holdings in shares of Lockheed Martin by 3,837.4% during the third quarter. Benjamin Edwards Inc. now owns 44,256 shares of the aerospace company’s stock worth $25,889,000 after purchasing an additional 43,132 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth approximately $498,000. Alerus Financial NA acquired a new stake in shares of Lockheed Martin during the third quarter worth approximately $202,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth approximately $338,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Barclays raised their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, TD Cowen raised their price objective on shares of 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Down 1.1 %

NYSE:LMT opened at $520.29 on Tuesday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market cap of $123.33 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 4.32 and a beta of 0.47. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company’s 50 day moving average is $568.75 and its 200-day moving average is $529.80.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

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.