First County Bank CT purchased a new position in Lockheed Martin Co. (NYSE:LMT – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 440 shares of the aerospace company’s stock, valued at approximately $257,000.
A number of other hedge funds also recently modified their holdings of the stock. 49 Wealth Management LLC bought a new position in shares of Lockheed Martin in the third quarter worth $316,000. Activest Wealth Management grew its position in Lockheed Martin by 109.6% in the third quarter. Activest Wealth Management now owns 153 shares of the aerospace company’s stock valued at $89,000 after acquiring an additional 80 shares during the last quarter. L & S Advisors Inc bought a new position in Lockheed Martin in the third quarter valued at about $8,636,000. Pacer Advisors Inc. grew its position in Lockheed Martin by 9.1% in the third quarter. Pacer Advisors Inc. now owns 27,577 shares of the aerospace company’s stock valued at $16,120,000 after acquiring an additional 2,298 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in Lockheed Martin in the third quarter valued at about $8,556,000. Institutional investors own 74.19% of the company’s stock.
Lockheed Martin Price Performance
Lockheed Martin stock opened at $542.22 on Friday. The stock’s 50 day moving average is $573.12 and its 200 day moving average is $526.94. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $128.53 billion, a P/E ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.
Lockheed Martin Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.43%. Lockheed Martin’s payout ratio is 45.62%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna decreased their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.
Check Out Our Latest Research Report on LMT
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.
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