Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Meridian Financial Partners LLC

by · The Markets Daily

Meridian Financial Partners LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480 shares of the aerospace company’s stock after buying an additional 30 shares during the quarter. Meridian Financial Partners LLC’s holdings in Lockheed Martin were worth $281,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its position in Lockheed Martin by 5.6% in the 4th quarter. Fisher Asset Management LLC now owns 6,853 shares of the aerospace company’s stock valued at $3,106,000 after purchasing an additional 364 shares during the last quarter. Stokes Family Office LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $425,000. Alaska Permanent Fund Corp bought a new stake in shares of Lockheed Martin during the first quarter valued at approximately $217,000. RFG Advisory LLC boosted its position in shares of Lockheed Martin by 18.4% during the first quarter. RFG Advisory LLC now owns 5,522 shares of the aerospace company’s stock worth $2,512,000 after buying an additional 859 shares during the period. Finally, Meyer Handelman Co. grew its holdings in Lockheed Martin by 19.7% in the 1st quarter. Meyer Handelman Co. now owns 4,649 shares of the aerospace company’s stock worth $2,115,000 after buying an additional 764 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMT. Wells Fargo & Company boosted their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. TD Cowen upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. UBS Group upped their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $597.92.

Check Out Our Latest Research Report on Lockheed Martin

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Up 0.4 %

Lockheed Martin stock opened at $611.76 on Friday. The company has a 50 day moving average price of $578.29 and a 200 day moving average price of $510.27. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62. The firm has a market capitalization of $146.78 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.73 EPS. Research analysts forecast 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. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.16%. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Lockheed Martin Profile

(Free Report)

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.

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