Independence Bank of Kentucky Raises Position in Lockheed Martin Co. (NYSE:LMT)

Independence Bank of Kentucky lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,086 shares of the aerospace company’s stock after buying an additional 577 shares during the period. Independence Bank of Kentucky’s holdings in Lockheed Martin were worth $1,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LMT. Wulff Hansen & CO. boosted its holdings in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the last quarter. Confluence Investment Management LLC bought a new position in Lockheed Martin during the 1st quarter worth approximately $151,402,000. Capital Research Global Investors lifted its holdings in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after buying an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after buying an additional 218,466 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LMT shares. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $581.77.

Lockheed Martin Stock Performance

LMT traded up $4.48 during trading hours on Friday, hitting $601.97. The company’s stock had a trading volume of 51,728 shares, compared to its average volume of 1,053,746. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $611.59. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $143.49 billion, a PE ratio of 21.69, a PEG ratio of 4.84 and a beta of 0.47. The company has a 50-day simple moving average of $570.92 and a 200 day simple moving average of $503.72.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $6.73 EPS. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.68 EPS 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 paid a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.74%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin 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.