Fiduciary Trust Co Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

Fiduciary Trust Co increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,781 shares of the aerospace company’s stock after purchasing an additional 229 shares during the period. Fiduciary Trust Co’s holdings in Lockheed Martin were worth $6,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LMT. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the second quarter worth $27,000. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the third quarter worth $32,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Lockheed Martin during the second quarter worth $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $525.75 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market capitalization of $124.62 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49. The company’s 50 day simple moving average is $569.60 and its 200-day simple moving average is $528.50. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 earnings per share. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

Wall Street Analyst Weigh In

Several research firms recently commented on LMT. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Susquehanna dropped their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.