Princeton Global Asset Management LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 8,313 shares of the aerospace company’s stock after acquiring an additional 300 shares during the quarter. Lockheed Martin makes up approximately 0.9% of Princeton Global Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Princeton Global Asset Management LLC’s holdings in Lockheed Martin were worth $4,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth $27,000. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its stake 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 worth $29,000 after buying an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the first quarter worth about $30,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. UBS Group upped their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.
Lockheed Martin Trading Down 0.1 %
Shares of LMT stock opened at $545.35 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The firm has a market cap of $129.27 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.47 and a beta of 0.49. The company has a 50-day moving average of $579.25 and a two-hundred day moving average of $518.42. 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 (NYSE:LMT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.77 EPS. On average, analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.
Lockheed Martin Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.
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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