Boston Mountain Money Management Inc. grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 8.7% in the third quarter, HoldingsChannel.com reports. The fund owned 675 shares of the aerospace company’s stock after acquiring an additional 54 shares during the quarter. Boston Mountain Money Management Inc.’s holdings in Lockheed Martin were worth $395,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Burkett Financial Services LLC bought a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC boosted its stake 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 in the last quarter. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at about $30,000. 74.19% of the stock is owned by institutional investors.
Lockheed Martin Stock Performance
NYSE:LMT traded up $1.68 during trading hours on Monday, reaching $605.85. The stock had a trading volume of 63,207 shares, compared to its average volume of 1,051,262. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $145.37 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $611.59. The stock has a 50 day simple moving average of $572.03 and a 200 day simple moving average of $505.57.
Lockheed Martin Increases Dividend
The business also recently declared 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 is a positive change 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 dividend yield of 2.18%. Lockheed Martin’s dividend payout ratio is presently 48.30%.
Insider Transactions at Lockheed Martin
In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on LMT shares. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday. 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. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. increased their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $581.77.
Read Our Latest Analysis on Lockheed Martin
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.
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