Lockheed Martin Co. (NYSE:LMT) Shares Bought by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,470 shares of the aerospace company’s stock after purchasing an additional 19 shares during the period. Assetmark Inc.’s holdings in Lockheed Martin were worth $859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the second quarter valued at $27,000. Sachetta LLC lifted its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC lifted its position in shares of 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 acquiring an additional 25 shares during the period. Stephens Consulting LLC lifted 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 valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $32,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT opened at $534.82 on Friday. The company has a market cap of $126.77 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company’s fifty day simple moving average is $577.16 and its 200 day simple moving average is $523.91. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating 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 the consensus estimate of $17.38 billion. During the same period in the previous year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share 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. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lifted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada lowered their price objective 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus 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.