Cypress Wealth Services LLC Makes New $440,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Cypress Wealth Services LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 753 shares of the aerospace company’s stock, valued at approximately $440,000.

Several other institutional investors have also made changes to their positions in the stock. BlueCrest Capital Management Ltd bought a new position in Lockheed Martin in the 4th quarter valued at about $724,000. Bontempo Ohly Capital Mgmt LLC increased its stake in shares of Lockheed Martin by 3.4% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 8,610 shares of the aerospace company’s stock valued at $3,902,000 after purchasing an additional 283 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new position in shares of Lockheed Martin in the 4th quarter valued at $277,000. Oracle Alpha Inc. bought a new stake in shares of Lockheed Martin during the 4th quarter worth $480,000. Finally, Occudo Quantitative Strategies LP boosted its stake in Lockheed Martin by 72.3% in the fourth quarter. Occudo Quantitative Strategies LP now owns 13,422 shares of the aerospace company’s stock valued at $6,083,000 after buying an additional 5,634 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 1.3 %

Shares of NYSE LMT opened at $597.49 on Friday. The company’s 50 day moving average price is $569.95 and its 200-day moving average price is $503.06. 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 52-week low of $413.92 and a 52-week high of $611.59. The company has a market capitalization of $142.42 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

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 analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast 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. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Susquehanna boosted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $581.77.

Insiders Place Their Bets

In other 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 completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

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.