Bank of Stockton Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Bank of Stockton bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 636 shares of the aerospace company’s stock, valued at approximately $372,000.

Several other hedge funds have also modified their holdings of LMT. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC grew its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LMT. 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 note on Wednesday. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Up 0.2 %

NYSE:LMT traded up $0.93 on Friday, hitting $565.14. 197,009 shares of the company’s stock were exchanged, compared to its average volume of 1,050,760. The firm has a 50-day moving average price of $580.03 and a 200-day moving average price of $513.85. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market cap of $135.60 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

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.