412 Shares in Lockheed Martin Co. (NYSE:LMT) Acquired by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 412 shares of the aerospace company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Old West Investment Management LLC grew its stake in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the last quarter. Empower Advisory Group LLC grew its stake in shares of Lockheed Martin by 9.1% in the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after purchasing an additional 1,843 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin in the second quarter worth $6,611,000. Finally, Financial Enhancement Group LLC grew its stake in shares of Lockheed Martin by 2,268.3% in the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after purchasing an additional 10,003 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT opened at $520.29 on Tuesday. The firm has a market cap of $123.33 billion, a P/E ratio of 18.84, a PEG ratio of 4.32 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a 50 day simple moving average of $568.75 and a two-hundred day simple moving average of $529.80. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced 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 positive change 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 dividend yield of 2.54%. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen raised their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, 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 report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.