Cadinha & Co. LLC Acquires 26,717 Shares of Lockheed Martin Co. (NYSE:LMT)

Cadinha & Co. LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 1,912.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,114 shares of the aerospace company’s stock after purchasing an additional 26,717 shares during the period. Lockheed Martin accounts for approximately 2.8% of Cadinha & Co. LLC’s portfolio, making the stock its 20th biggest holding. Cadinha & Co. LLC’s holdings in Lockheed Martin were worth $16,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. Mattson Financial Services LLC acquired a new stake in Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin in the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LMT. Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Barclays raised their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price target on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $568.31.

Lockheed Martin Stock Down 0.5 %

Shares of NYSE LMT traded down $2.76 during trading on Thursday, hitting $602.35. 105,698 shares of the company traded hands, compared to its average volume of 1,055,166. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $144.53 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $611.59. The business’s fifty day moving average is $569.95 and its 200 day moving average is $503.06.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $6.73 EPS. Equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.19%. 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 payout ratio is currently 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.