First Interstate Bank Takes $238,000 Position in Lockheed Martin Co. (NYSE:LMT)

First Interstate Bank purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 407 shares of the aerospace company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin in the second quarter valued at approximately $6,611,000. McAdam LLC boosted its holdings in shares of Lockheed Martin by 101.7% in the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after acquiring an additional 594 shares during the period. Verity & Verity LLC boosted its holdings in shares of Lockheed Martin by 3.2% in the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after acquiring an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $1,096,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $545.35 on Friday. The stock’s 50-day moving average is $579.25 and its 200-day moving average is $518.42. The company has a market cap of $129.27 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 4.47 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. UBS Group raised their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

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.