Vestcor Inc Buys 3,088 Shares of Lockheed Martin Co. (NYSE:LMT)

Vestcor Inc lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 20.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,313 shares of the aerospace company’s stock after buying an additional 3,088 shares during the quarter. Vestcor Inc’s holdings in Lockheed Martin were worth $10,705,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC boosted its holdings in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the period. AllGen Financial Advisors Inc. increased its stake in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC lifted its holdings in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares during the last quarter. Sunburst Financial Group LLC boosted its stake in Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC grew its holdings in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $510.20 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $120.94 billion, a PE ratio of 18.47, a P/E/G ratio of 4.19 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The business’s 50-day moving average price is $561.02 and its two-hundred day moving average price is $531.86.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal 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 given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.59%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LMT shares. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

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.