Keynote Financial Services LLC Invests $761,000 in Lockheed Martin Co. (NYSE:LMT)

Keynote Financial Services LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,673 shares of the aerospace company’s stock, valued at approximately $761,000.

Other hedge funds also recently made changes to their positions in the company. First Pacific Financial acquired a new position in shares of Lockheed Martin in the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT traded down $0.09 during midday trading on Friday, reaching $548.77. The stock had a trading volume of 1,484,756 shares, compared to its average volume of 1,127,651. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $561.12. 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 firm’s 50 day moving average price is $476.89 and its 200-day moving average price is $456.78. The company has a market capitalization of $130.80 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.73 EPS. On average, analysts forecast that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their target price on Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Citigroup lifted their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $526.77.

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.