Financial Advocates Investment Management Purchases 186 Shares of Lockheed Martin Co. (NYSE:LMT)

Financial Advocates Investment Management boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,943 shares of the aerospace company’s stock after buying an additional 186 shares during the period. Financial Advocates Investment Management’s holdings in Lockheed Martin were worth $1,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new position in Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC raised its position in Lockheed Martin by 50.0% during the second 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 period. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the first quarter valued at approximately $30,000. Finally, Stephens Consulting LLC raised its position in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Up 0.1 %

Shares of NYSE:LMT opened at $546.45 on Friday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock has a market cap of $131.11 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. The business’s 50 day moving average is $579.44 and its 200 day moving average is $517.34. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of recent research reports. Citigroup upped their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.