Alerus Financial NA Invests $202,000 in Lockheed Martin Co. (NYSE:LMT)

Alerus Financial NA purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 346 shares of the aerospace company’s stock, valued at approximately $202,000.

A number of other hedge funds have also added to or reduced their stakes in LMT. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the third quarter worth about $32,000. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin during the second quarter worth about $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Citigroup increased their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

NYSE LMT opened at $529.41 on Monday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a fifty day moving average of $568.75 and a 200-day moving average of $529.80. The company has a market capitalization of $125.49 billion, a P/E ratio of 19.17, a P/E/G ratio of 4.32 and a beta of 0.49. 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 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 firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 earnings per share. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.49%. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

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.