Tandem Investment Advisors Inc. Acquires New Stake in Lockheed Martin Co. (NYSE:LMT)

Tandem Investment Advisors Inc. bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 420 shares of the aerospace company’s stock, valued at approximately $246,000.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its stake in Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at approximately $6,611,000. Old West Investment Management LLC lifted its position in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares in the last quarter. McAdam LLC boosted its stake in Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after buying an additional 594 shares during the last quarter. Finally, Financial Enhancement Group LLC grew its holdings in Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after buying an additional 10,003 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on LMT. Royal Bank of Canada reduced their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Morgan Stanley upped their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

LMT opened at $551.98 on Friday. The firm has a market cap of $130.84 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 4.44 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s 50-day moving average price is $578.42 and its 200 day moving average price is $520.28. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

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 business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current 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 $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.39%. Lockheed Martin’s payout ratio 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.