Lockheed Martin Co. (NYSE:LMT) Shares Bought by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 69.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,028 shares of the aerospace company’s stock after buying an additional 422 shares during the period. Orrstown Financial Services Inc.’s holdings in Lockheed Martin were worth $601,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LMT. Stokes Family Office LLC acquired a new position in Lockheed Martin during the 1st quarter valued at approximately $425,000. Allspring Global Investments Holdings LLC grew its position in shares of Lockheed Martin by 17.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 193,600 shares of the aerospace company’s stock worth $88,063,000 after acquiring an additional 28,697 shares during the last quarter. Plimoth Trust Co. LLC increased its holdings in shares of Lockheed Martin by 3.6% in the 1st quarter. Plimoth Trust Co. LLC now owns 5,050 shares of the aerospace company’s stock worth $2,297,000 after acquiring an additional 175 shares during the period. BluePath Capital Management LLC lifted its position in Lockheed Martin by 9.1% in the 1st quarter. BluePath Capital Management LLC now owns 3,225 shares of the aerospace company’s stock valued at $1,467,000 after purchasing an additional 268 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its stake in Lockheed Martin by 2.0% during the 1st quarter. Valley National Advisers Inc. now owns 19,632 shares of the aerospace company’s stock valued at $8,929,000 after purchasing an additional 386 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT opened at $555.17 on Tuesday. The business has a fifty day simple moving average of $580.01 and a 200-day simple moving average of $516.25. The firm has a market cap of $133.21 billion, a PE ratio of 20.31, a P/E/G ratio of 4.62 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

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, beating analysts’ consensus estimates 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 return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.77 EPS. As a group, equities analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.38%. 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 dividend payout ratio is 48.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. UBS Group raised their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned 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 $606.71.

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.