Old North State Trust LLC Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Old North State Trust LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 745 shares of the aerospace company’s stock after purchasing an additional 31 shares during the period. Old North State Trust LLC’s holdings in Lockheed Martin were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin during the 3rd quarter worth $26,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Stephens Consulting LLC increased its position 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 acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $496.69 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s 50-day simple moving average is $555.00 and its 200 day simple moving average is $531.74. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a market capitalization of $117.74 billion, a PE ratio of 17.98, a P/E/G ratio of 4.13 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 EPS. On average, equities research analysts predict that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LMT shares. Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Barclays boosted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $612.29.

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.