Private Trust Co. NA Grows Position in Lockheed Martin Co. (NYSE:LMT)

Private Trust Co. NA raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,306 shares of the aerospace company’s stock after purchasing an additional 39 shares during the period. Private Trust Co. NA’s holdings in Lockheed Martin were worth $2,517,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC increased its holdings in Lockheed Martin by 18.6% in the 3rd quarter. Truvestments Capital LLC now owns 6,118 shares of the aerospace company’s stock worth $3,577,000 after acquiring an additional 958 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Lockheed Martin by 51.9% in the third quarter. Brown Brothers Harriman & Co. now owns 8,378 shares of the aerospace company’s stock worth $4,897,000 after purchasing an additional 2,861 shares during the period. DRW Securities LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth $3,641,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $1,003,000. Finally, Prosperity Financial Group Inc. purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group raised their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

LMT stock opened at $525.99 on Monday. The firm has a 50-day simple moving average of $573.12 and a two-hundred day simple moving average of $527.79. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The firm has a market cap of $124.68 billion, a price-to-earnings ratio of 19.63, a PEG 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. On average, equities analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.51%. Lockheed Martin’s payout ratio is 45.62%.

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.