Douglas Lane & Associates LLC Takes $210,000 Position in Lockheed Martin Co. (NYSE:LMT)

Douglas Lane & Associates LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 360 shares of the aerospace company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wulff Hansen & CO. boosted its stake in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp grew its holdings in Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the period. Confluence Investment Management LLC purchased a new stake in Lockheed Martin in the first quarter worth about $151,402,000. Capital Research Global Investors lifted its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after acquiring an additional 218,466 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LMT. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada upped their price target on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $581.77.

Lockheed Martin Trading Up 1.1 %

Shares of LMT opened at $604.17 on Monday. The stock has a market capitalization of $144.96 billion, a PE ratio of 22.11, a P/E/G ratio of 4.84 and a beta of 0.47. The company’s fifty day moving average is $572.03 and its 200 day moving average is $505.57. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $611.59.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the prior year, the firm posted $6.73 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. 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 2.18%. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

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.