Mitchell & Pahl Private Wealth LLC Buys New Holdings in Lockheed Martin Co. (NYSE:LMT)

Mitchell & Pahl Private Wealth LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,573 shares of the aerospace company’s stock, valued at approximately $920,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased 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 acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new stake in Lockheed Martin during the second quarter valued at approximately $6,611,000. Verity & Verity LLC grew its stake in shares of Lockheed Martin by 3.2% in the 2nd 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 acquired a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $1,096,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of Lockheed Martin by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after buying an additional 2,400 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LMT. UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup boosted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $597.92.

Lockheed Martin Trading Down 0.5 %

Shares of NYSE LMT traded down $2.92 during midday trading on Thursday, hitting $609.91. The stock had a trading volume of 151,344 shares, compared to its average volume of 1,045,696. The firm has a market cap of $146.34 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $614.62. 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’s 50-day simple moving average is $575.92 and its 200 day simple moving average is $508.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the company earned $6.73 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 2.16%. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.