Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,999 shares of the aerospace company’s stock after purchasing an additional 65 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lockheed Martin were worth $3,507,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CVA Family Office LLC lifted its position in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. Quad Cities Investment Group LLC lifted its holdings in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank grew its position in shares of Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC increased its stake in shares of Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares in the last quarter. Finally, Sachetta LLC raised its position 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 last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $611.76 on Friday. The stock has a market cap of $146.78 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $578.29 and a 200-day simple moving average of $510.27. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $614.62.

Lockheed Martin (NYSE:LMT) last posted 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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the firm earned $6.73 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business 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 is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 48.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Susquehanna increased their target price on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday. Finally, UBS Group boosted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.