Archer Investment Corp Has $3.75 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Archer Investment Corp lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 4.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,406 shares of the aerospace company’s stock after selling 286 shares during the period. Lockheed Martin makes up approximately 1.0% of Archer Investment Corp’s holdings, making the stock its 20th biggest position. Archer Investment Corp’s holdings in Lockheed Martin were worth $3,745,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC lifted its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted 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 worth $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMT. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays boosted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Susquehanna reduced their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

LMT stock traded up $2.69 during midday trading on Friday, reaching $541.68. 134,379 shares of the company’s stock traded hands, compared to its average volume of 1,056,106. The stock’s 50-day moving average is $577.16 and its 200 day moving average is $523.91. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market cap of $128.40 billion, a P/E ratio of 19.61, a PEG ratio of 4.56 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.

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

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

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.