Second Line Capital LLC Invests $202,000 in Lockheed Martin Co. (NYSE:LMT)

Second Line Capital LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 346 shares of the aerospace company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently modified their holdings of the company. Lantz Financial LLC boosted its stake in shares of Lockheed Martin by 2.6% during the 2nd quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock valued at $2,281,000 after purchasing an additional 123 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Lockheed Martin by 119.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,016 shares of the aerospace company’s stock valued at $475,000 after acquiring an additional 554 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Lockheed Martin by 7.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,076 shares of the aerospace company’s stock worth $14,983,000 after acquiring an additional 2,282 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Lockheed Martin by 4.1% in the second quarter. Cornerstone Wealth Management LLC now owns 2,735 shares of the aerospace company’s stock worth $1,277,000 after purchasing an additional 108 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 8.4% during the second quarter. Red Door Wealth Management LLC now owns 9,336 shares of the aerospace company’s stock valued at $4,361,000 after purchasing an additional 721 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.6 %

Shares of Lockheed Martin stock opened at $512.85 on Wednesday. The company has a market capitalization of $121.57 billion, a P/E ratio of 18.57, a P/E/G ratio of 4.19 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a fifty day moving average of $561.02 and a 200 day moving average of $531.86.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during 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%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal 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 paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. Citigroup raised their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target 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.