429 Shares in Lockheed Martin Co. (NYSE:LMT) Purchased by Essex LLC

Essex LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 429 shares of the aerospace company’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at approximately $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth $27,000. Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC grew its position in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $30,000. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent analyst reports. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. UBS Group boosted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $597.92.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Trading Up 0.4 %

Shares of LMT stock opened at $611.81 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market cap of $146.80 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The business has a 50-day moving average price of $578.29 and a two-hundred day moving average price of $510.67. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $614.62.

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 the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.73 earnings per share. Equities analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.16%. 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 (DPR) is presently 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.