Sky Investment Group LLC Acquires Shares of 369 Lockheed Martin Co. (NYSE:LMT)

Sky Investment Group LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 369 shares of the aerospace company’s stock, valued at approximately $216,000.

Several other institutional investors also recently bought and sold shares of LMT. GAMMA Investing LLC lifted its position in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC bought a new stake in Lockheed Martin in the 2nd quarter worth approximately $6,611,000. Verity & Verity LLC boosted its position in shares of Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after acquiring an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $1,096,000. Finally, New Mexico Educational Retirement Board increased its position in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on 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 owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays upped their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $599.93.

Lockheed Martin Trading Down 5.0 %

NYSE:LMT traded down $30.81 during midday trading on Tuesday, hitting $583.80. The stock had a trading volume of 865,625 shares, compared to its average volume of 1,045,750. The stock has a 50-day moving average of $579.45 and a 200 day moving average of $512.24. The company has a market capitalization of $140.08 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.26%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

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.