First County Bank CT Purchases Shares of 440 Lockheed Martin Co. (NYSE:LMT)

First County Bank CT purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 440 shares of the aerospace company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC increased 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 valued at $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Stephens Consulting LLC increased 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 valued at $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.0 %

Shares of NYSE:LMT opened at $542.22 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business has a fifty day moving average price of $573.12 and a two-hundred day moving average price of $526.94. The company has a market capitalization of $128.53 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts forecast that Lockheed Martin Co. will post 26.89 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. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.43%. 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 dividend payout ratio is currently 45.62%.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.