Forbes J M & Co. LLP Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Forbes J M & Co. LLP acquired a new stake in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 425 shares of the aerospace company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after buying an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after buying an additional 119,052 shares in the last quarter. Finally, Wulff Hansen & CO. grew its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $5.61 on Monday, hitting $556.68. The company’s stock had a trading volume of 266,214 shares, compared to its average volume of 1,051,221. 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 stock’s 50 day moving average is $580.07 and its 200-day moving average is $515.53. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a market capitalization of $132.69 billion, a PE ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal 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 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 is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.37%. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average 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.