Marco Investment Management LLC Buys Shares of 408 Lockheed Martin Co. (NYSE:LMT)

Marco Investment Management LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 408 shares of the aerospace company’s stock, valued at approximately $238,000.

Several other institutional investors also recently modified their holdings of the stock. Mattson Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Stephens Consulting LLC grew its holdings in shares of 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 during the period. Finally, Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at $32,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $542.22 on Monday. The company has a market capitalization of $128.53 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.43 and a beta of 0.49. The stock’s 50 day moving average is $573.12 and its 200-day moving average is $527.79. 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 Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for 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%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $6.77 earnings per share. Equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LMT shares. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada cut their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target 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.