Lockheed Martin Co. (NYSE:LMT) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,509 shares of the aerospace company’s stock after purchasing an additional 1,420 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lockheed Martin were worth $16,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the third quarter worth about $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC boosted its stake 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 in the last quarter. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing 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. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.3 %

LMT opened at $562.29 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 50 day moving average price of $580.07 and a 200 day moving average price of $515.08. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The company has a market cap of $134.03 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date 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 45.62%.

Analyst Ratings Changes

Several research firms have recently commented on LMT. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada decreased their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

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.