OLD National Bancorp IN Buys 1,335 Shares of Lockheed Martin Co. (NYSE:LMT)

OLD National Bancorp IN lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,017 shares of the aerospace company’s stock after acquiring an additional 1,335 shares during the period. OLD National Bancorp IN’s holdings in Lockheed Martin were worth $17,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Lockheed Martin by 65.8% during 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. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC boosted its stake in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LMT has been the topic of several research reports. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $597.92.

Lockheed Martin Trading Up 0.4 %

NYSE LMT opened at $611.81 on Friday. The stock has a market cap of $146.80 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $614.62. The stock has a 50 day simple moving average of $578.29 and a two-hundred day simple moving average of $510.67. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.73 earnings per share. On average, analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. Lockheed Martin’s payout ratio is presently 48.30%.

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.