Next Level Private LLC Purchases New Shares in Lockheed Martin Co. (NYSE:LMT)

Next Level Private LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 365 shares of the aerospace company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wulff Hansen & CO. grew its position in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Confluence Investment Management LLC acquired a new position in Lockheed Martin in the first quarter valued at about $151,402,000. Capital Research Global Investors lifted its position in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. Finally, National Bank of Canada FI grew its stake in Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after buying an additional 218,466 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Susquehanna lifted their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $581.77.

Lockheed Martin Stock Up 1.1 %

NYSE:LMT opened at $604.27 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $611.59. The firm’s 50 day simple moving average is $572.03 and its 200 day simple moving average is $504.82. The company has a market cap of $144.03 billion, a PE ratio of 21.93, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business 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%. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.73 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed 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 is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.74%.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was 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. 0.17% of the stock is currently owned by company insiders.

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.