Joule Financial LLC Acquires Shares of 418 Lockheed Martin Co. (NYSE:LMT)

Joule Financial LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 418 shares of the aerospace company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC raised its stake in Lockheed Martin by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 6,853 shares of the aerospace company’s stock worth $3,106,000 after purchasing an additional 364 shares during the period. Stokes Family Office LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $425,000. Alaska Permanent Fund Corp purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at approximately $217,000. Montecito Bank & Trust lifted its holdings in Lockheed Martin by 4.6% in the first quarter. Montecito Bank & Trust now owns 609 shares of the aerospace company’s stock valued at $277,000 after acquiring an additional 27 shares during the last quarter. Finally, Signal Advisors Wealth LLC grew its position in Lockheed Martin by 9.0% in the first quarter. Signal Advisors Wealth LLC now owns 532 shares of the aerospace company’s stock worth $242,000 after acquiring an additional 44 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on LMT shares. Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday. Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada increased their price objective on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One 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 company’s stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $597.92.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction 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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Down 0.1 %

Shares of NYSE LMT traded down $0.42 during mid-day trading on Friday, hitting $609.20. The company had a trading volume of 125,344 shares, compared to its average volume of 1,043,519. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $614.62. The company has a market capitalization of $146.17 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business’s 50-day simple moving average is $577.08 and its 200 day simple moving average is $509.17.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the business posted $6.73 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.17%. 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 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.