Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Webster Bank N. A.

Webster Bank N. A. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 42.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276 shares of the aerospace company’s stock after buying an additional 82 shares during the quarter. Webster Bank N. A.’s holdings in Lockheed Martin were worth $161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wulff Hansen & CO. raised its stake in shares of 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 worth $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 purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $151,402,000. Capital Research Global Investors boosted its stake in shares of Lockheed Martin by 29.7% in the first 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 grew its holdings in Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after acquiring an additional 218,466 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $604.17 on Monday. The stock has a market cap of $144.96 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $572.03 and a 200-day simple moving average of $505.57. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $611.59.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $6.73 EPS. On average, 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. Stockholders of record on Monday, December 2nd will be given 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 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $581.77.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s 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 transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

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.