Legacy Capital Group California Inc. Acquires 121 Shares of Lockheed Martin Co. (NYSE:LMT)

Legacy Capital Group California Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,061 shares of the aerospace company’s stock after acquiring an additional 121 shares during the period. Legacy Capital Group California Inc.’s holdings in Lockheed Martin were worth $620,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the period. Buck Wealth Strategies LLC bought a new position in Lockheed Martin during the 2nd quarter worth approximately $6,611,000. Verity & Verity LLC grew its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Lockheed Martin in the third quarter valued at approximately $1,096,000. Finally, New Mexico Educational Retirement Board raised its holdings in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LMT. Robert W. Baird boosted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Down 1.2 %

NYSE:LMT opened at $564.21 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market capitalization of $135.38 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock’s 50 day moving average price is $579.95 and its two-hundred day moving average price is $513.50.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business 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 firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts expect that Lockheed Martin Co. will post 26.68 earnings per share 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. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

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.