Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC lifted its position in Lockheed Martin Co. (NYSE:LMT) by 15.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,046 shares of the aerospace company’s stock after acquiring an additional 141 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Lockheed Martin were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LMT. CVA Family Office LLC lifted its position in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. increased its stake in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC increased its stake in Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC increased its stake in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC increased its stake in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on LMT shares. Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. 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 note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Down 3.4 %

Shares of LMT opened at $539.04 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 $127.77 billion, a P/E ratio of 19.52, a PEG ratio of 4.56 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 firm’s 50-day moving average is $577.75 and its two-hundred day moving average is $523.80.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 26.89 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. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 45.62%.

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.