Fiduciary Trust Co Acquires 229 Shares of Lockheed Martin Co. (NYSE:LMT)

Fiduciary Trust Co boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,781 shares of the aerospace company’s stock after acquiring an additional 229 shares during the quarter. Fiduciary Trust Co’s holdings in Lockheed Martin were worth $6,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the second quarter worth $27,000. Sachetta LLC boosted its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the 3rd quarter worth about $32,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE LMT opened at $525.75 on Friday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The firm’s 50 day moving average price is $569.60 and its 200-day moving average price is $528.50. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $124.62 billion, a PE ratio of 19.04, a P/E/G ratio of 4.29 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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 dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.51%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Susquehanna cut their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Company Profile

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.