Asset Planning Corporation Takes Position in Lockheed Martin Co. (NYSE:LMT)

Asset Planning Corporation bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, HoldingsChannel reports. The fund bought 612 shares of the aerospace company’s stock, valued at approximately $358,000.

Several other large investors have also recently bought and sold shares of the business. CVA Family Office LLC increased its holdings in shares of Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares during the last quarter. Quad Cities Investment Group LLC raised its holdings in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank lifted its position in shares of Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares during the last quarter. tru Independence LLC boosted its holdings in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after buying an additional 20 shares in the last quarter. Finally, Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% in the 2nd 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. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $2.64 during mid-day trading on Monday, hitting $614.45. The stock had a trading volume of 357,143 shares, compared to its average volume of 1,043,776. The firm has a market cap of $147.43 billion, a PE ratio of 22.49, a PEG ratio of 4.84 and a beta of 0.47. The company’s 50-day simple moving average is $578.29 and its 200-day simple moving average is $511.11. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate 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 firm earned $6.73 earnings per share. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.15%. Lockheed Martin’s dividend payout ratio is 48.30%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMT shares. Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $597.92.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

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.