Meyer Handelman Co. Raises Position in Lockheed Martin Co. (NYSE:LMT)

Meyer Handelman Co. increased its stake in Lockheed Martin Co. (NYSE:LMT) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,349 shares of the aerospace company’s stock after acquiring an additional 330 shares during the period. Meyer Handelman Co.’s holdings in Lockheed Martin were worth $3,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optimist Retirement Group LLC purchased a new position in Lockheed Martin in the fourth quarter worth approximately $1,491,000. Hobbs Group Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter valued at $725,000. Taylor Financial Group Inc. acquired a new stake in Lockheed Martin in the fourth quarter valued at $1,550,000. Able Wealth Management LLC purchased a new stake in Lockheed Martin during the 4th quarter worth about $45,000. Finally, GLOBALT Investments LLC GA acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $5,684,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $581.77.

Lockheed Martin Stock Performance

Shares of LMT opened at $604.27 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $611.59. The company has a 50-day simple moving average of $572.03 and a 200-day simple moving average of $504.82. The company has a market capitalization of $144.03 billion, a PE ratio of 21.93, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the company earned $6.73 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 45.74%.

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.