River Street Advisors LLC Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

River Street Advisors LLC raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 25.8% in the 3rd quarter, Holdings Channel reports. The firm owned 717 shares of the aerospace company’s stock after acquiring an additional 147 shares during the period. River Street Advisors LLC’s holdings in Lockheed Martin were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC boosted its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC lifted its stake in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Finally, Stephens Consulting LLC lifted its stake in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT traded down $4.16 during trading hours on Friday, hitting $534.83. 1,757,312 shares of the company traded hands, compared to its average volume of 1,063,416. The stock has a market capitalization of $126.78 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a 50-day moving average of $576.52 and a 200 day moving average of $524.37. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LMT shares. Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

About Lockheed Martin

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.