Hamel Associates Inc. Acquires 38 Shares of Lockheed Martin Co. (NYSE:LMT)

Hamel Associates Inc. grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,745 shares of the aerospace company’s stock after purchasing an additional 38 shares during the quarter. Lockheed Martin comprises approximately 1.7% of Hamel Associates Inc.’s portfolio, making the stock its 25th biggest holding. Hamel Associates Inc.’s holdings in Lockheed Martin were worth $5,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Lockheed Martin by 10.1% during the first quarter. Russell Investments Group Ltd. now owns 54,030 shares of the aerospace company’s stock worth $24,577,000 after acquiring an additional 4,976 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin during the 1st quarter valued at $30,000. Interchange Capital Partners LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $214,000. Angeles Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 14.3% during the 1st quarter. Angeles Wealth Management LLC now owns 808 shares of the aerospace company’s stock valued at $368,000 after buying an additional 101 shares in the last quarter. Finally, Texas Yale Capital Corp. boosted its stake in Lockheed Martin by 3.0% in the 1st quarter. Texas Yale Capital Corp. now owns 2,058 shares of the aerospace company’s stock worth $936,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.8 %

Lockheed Martin stock opened at $566.07 on Wednesday. The firm has a 50 day moving average of $578.09 and a 200 day moving average of $523.56. The firm has a market capitalization of $134.18 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 4.67 and a beta of 0.49. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. 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 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict 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 represents a $13.20 annualized dividend and a yield of 2.33%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMT. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

About Lockheed Martin

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.