Hamel Associates Inc. Purchases 38 Shares of Lockheed Martin Co. (NYSE:LMT)

Hamel Associates Inc. increased its stake in Lockheed Martin Co. (NYSE:LMT) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 9,745 shares of the aerospace company’s stock after acquiring an additional 38 shares during the period. Lockheed Martin makes up about 1.7% of Hamel Associates Inc.’s investment portfolio, making the stock its 25th biggest holding. Hamel Associates Inc.’s holdings in Lockheed Martin were worth $5,697,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LMT. Simmons Bank lifted its position in shares of Lockheed Martin by 3.2% during the third quarter. Simmons Bank now owns 14,270 shares of the aerospace company’s stock worth $8,342,000 after purchasing an additional 445 shares during the last quarter. Chase Investment Counsel Corp lifted its position in shares of Lockheed Martin by 11.6% during the third quarter. Chase Investment Counsel Corp now owns 972 shares of the aerospace company’s stock worth $568,000 after purchasing an additional 101 shares during the last quarter. Community Bank & Trust Waco Texas lifted its position in shares of Lockheed Martin by 0.6% during the third quarter. Community Bank & Trust Waco Texas now owns 21,112 shares of the aerospace company’s stock worth $12,341,000 after purchasing an additional 129 shares during the last quarter. Empower Advisory Group LLC lifted its position in shares of Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in shares of Lockheed Martin by 21.0% during the third quarter. Aptus Capital Advisors LLC now owns 53,861 shares of the aerospace company’s stock worth $31,485,000 after purchasing an additional 9,347 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $566.07 on Wednesday. The business’s 50 day moving average price is $578.09 and its 200 day moving average price is $523.56. The firm has a market cap of $134.18 billion, a P/E ratio of 20.49, a P/E/G ratio of 4.67 and a beta of 0.49. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.33%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Susquehanna decreased their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus 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.