Edgestream Partners L.P. Acquires 497 Shares of Lockheed Martin Co. (NYSE:LMT)

Edgestream Partners L.P. boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,667 shares of the aerospace company’s stock after acquiring an additional 497 shares during the period. Edgestream Partners L.P.’s holdings in Lockheed Martin were worth $2,144,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. L.M. Kohn & Company boosted its stake in shares of Lockheed Martin by 2.8% during the 3rd quarter. L.M. Kohn & Company now owns 4,509 shares of the aerospace company’s stock valued at $2,636,000 after purchasing an additional 124 shares in the last quarter. Firsthand Capital Management Inc. bought a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $1,169,000. Ironwood Investment Counsel LLC lifted its stake in shares of Lockheed Martin by 1.0% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 14,720 shares of the aerospace company’s stock valued at $8,605,000 after purchasing an additional 147 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Lockheed Martin by 139.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 80,554 shares of the aerospace company’s stock valued at $47,089,000 after purchasing an additional 46,900 shares during the period. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $1,840,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.1 %

LMT stock opened at $520.29 on Tuesday. The business’s 50-day moving average is $568.75 and its two-hundred day moving average is $529.80. The company has a market cap of $123.33 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 4.32 and a beta of 0.49. 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 debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping 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 firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current 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 issued a $3.30 dividend. 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 yield of 2.54%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Analysts Set New Price Targets

LMT has been the subject of a number of research reports. Susquehanna decreased their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. 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. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin 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.