Acorn Creek Capital LLC Takes $235,000 Position in Lockheed Martin Co. (NYSE:LMT)

Acorn Creek Capital LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 401 shares of the aerospace company’s stock, valued at approximately $235,000.

A number of other large investors have also modified their holdings of LMT. Burkett Financial Services LLC acquired a new stake in Lockheed Martin during the 3rd quarter valued at approximately $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup lifted their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna lifted their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $587.15.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $605.00 on Wednesday. The stock has a market cap of $145.16 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The business has a fifty day simple moving average of $574.64 and a 200-day simple moving average of $507.73. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $614.62.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $6.73 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current fiscal 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 given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

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.