Manchester Financial Inc. Invests $248,000 in Lockheed Martin Co. (NYSE:LMT)

Manchester Financial Inc. bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the third quarter, Holdings Channel reports. The fund bought 425 shares of the aerospace company’s stock, valued at approximately $248,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin in the second quarter valued at about $6,611,000. McAdam LLC raised its position in Lockheed Martin by 101.7% in the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after purchasing an additional 594 shares during the period. Verity & Verity LLC lifted its stake in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth about $1,096,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.3 %

LMT stock opened at $562.29 on Friday. The firm’s 50-day moving average is $580.07 and its two-hundred day moving average is $515.08. The company has a market capitalization of $134.03 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping 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 company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the business earned $6.77 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that Lockheed Martin Co. will post 26.65 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. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Susquehanna decreased their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

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.