Lockheed Martin Co. (NYSE:LMT) Shares Bought by Montecito Bank & Trust

Montecito Bank & Trust grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 629 shares of the aerospace company’s stock after purchasing an additional 45 shares during the period. Montecito Bank & Trust’s holdings in Lockheed Martin were worth $368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Lockheed Martin by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 270,879 shares of the aerospace company’s stock worth $158,345,000 after acquiring an additional 10,358 shares during the period. Woodmont Investment Counsel LLC increased its holdings in shares of Lockheed Martin by 1.5% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 22,506 shares of the aerospace company’s stock worth $13,156,000 after acquiring an additional 328 shares during the period. Hanseatic Management Services Inc. acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth about $238,000. Advisor Resource Council acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth about $305,000. Finally, Graypoint LLC increased its holdings in shares of Lockheed Martin by 5.3% in the 3rd quarter. Graypoint LLC now owns 2,303 shares of the aerospace company’s stock worth $1,346,000 after acquiring an additional 115 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT opened at $551.98 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a 50-day moving average of $578.42 and a two-hundred day moving average of $520.28. The stock has a market cap of $130.84 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 4.44 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last posted 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 during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.77 earnings per share. On average, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business 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 $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 45.62%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $611.00.

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.