Advisor Resource Council Takes $305,000 Position in Lockheed Martin Co. (NYSE:LMT)

Advisor Resource Council bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 521 shares of the aerospace company’s stock, valued at approximately $305,000.

Other institutional investors have also modified their holdings of the company. Norden Group LLC grew its stake in shares of Lockheed Martin by 96.0% in the 1st quarter. Norden Group LLC now owns 1,186 shares of the aerospace company’s stock worth $540,000 after purchasing an additional 581 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lockheed Martin by 7.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 29,794 shares of the aerospace company’s stock worth $13,552,000 after buying an additional 1,966 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Lockheed Martin by 125.1% in the first quarter. Quantbot Technologies LP now owns 6,513 shares of the aerospace company’s stock valued at $2,963,000 after purchasing an additional 3,620 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in Lockheed Martin by 4.4% in the first quarter. Wealthspire Advisors LLC now owns 2,970 shares of the aerospace company’s stock valued at $1,351,000 after acquiring an additional 124 shares during the last quarter. Finally, PFG Advisors increased its stake in shares of Lockheed Martin by 14.9% during the 1st quarter. PFG Advisors now owns 3,116 shares of the aerospace company’s stock worth $1,417,000 after purchasing an additional 403 shares during 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 topic of several analyst reports. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research 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 research note on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Price Performance

Shares of LMT stock opened at $551.98 on Friday. The company has a market capitalization of $130.84 billion, a P/E ratio of 19.98, a P/E/G ratio of 4.44 and a beta of 0.49. 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. The stock has a 50 day moving average of $578.42 and a two-hundred day moving average of $520.28.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $6.77 earnings per share. As a group, equities analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.39%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

About Lockheed Martin

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.