Bleakley Financial Group LLC Raises Holdings in Lockheed Martin Co. (NYSE:LMT)

Bleakley Financial Group LLC lifted its position in Lockheed Martin Co. (NYSE:LMT) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,999 shares of the aerospace company’s stock after acquiring an additional 65 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lockheed Martin were worth $3,507,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LMT. GAMMA Investing LLC increased its holdings in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the period. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $6,611,000. Verity & Verity LLC raised its position in shares of Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after acquiring an additional 1,071 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth $1,096,000. Finally, New Mexico Educational Retirement Board boosted its position in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after purchasing an additional 2,400 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

LMT opened at $611.76 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $614.62. The firm has a 50 day moving average of $578.29 and a two-hundred day moving average of $510.27. The firm has a market capitalization of $146.78 billion, a PE ratio of 22.38, a P/E/G ratio of 4.84 and a beta of 0.47.

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

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is an increase 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 dividend yield of 2.16%. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’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 value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on LMT shares. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Susquehanna raised their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $597.92.

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.