Essex Financial Services Inc. Grows Position in Lockheed Martin Co. (NYSE:LMT)

Essex Financial Services Inc. grew its stake in Lockheed Martin Co. (NYSE:LMT) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,813 shares of the aerospace company’s stock after acquiring an additional 415 shares during the quarter. Essex Financial Services Inc.’s holdings in Lockheed Martin were worth $3,311,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Annex Advisory Services LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at approximately $236,000. Retirement Planning Group LLC raised its holdings in Lockheed Martin by 122.4% in the 3rd quarter. Retirement Planning Group LLC now owns 1,281 shares of the aerospace company’s stock valued at $749,000 after acquiring an additional 705 shares during the last quarter. Douglas Lane & Associates LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $210,000. Webster Bank N. A. boosted its holdings in shares of Lockheed Martin by 42.3% during the third quarter. Webster Bank N. A. now owns 276 shares of the aerospace company’s stock worth $161,000 after purchasing an additional 82 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Lockheed Martin by 12.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,972 shares of the aerospace company’s stock valued at $2,322,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.8 %

NYSE LMT opened at $447.91 on Tuesday. The stock has a market cap of $105.43 billion, a PE ratio of 20.12, a P/E/G ratio of 2.12 and a beta of 0.48. The business has a 50 day moving average price of $484.84 and a two-hundred day moving average price of $535.98. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LMT. Citigroup decreased their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. TD Cowen boosted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin 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.