Artemis Investment Management LLP Makes New $15.99 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Artemis Investment Management LLP bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,358 shares of the aerospace company’s stock, valued at approximately $15,992,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the 1st quarter valued at approximately $30,000. Finally, Stephens Consulting LLC grew its stake in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.5 %

NYSE:LMT opened at $608.27 on Wednesday. The stock’s 50-day moving average is $567.27 and its two-hundred day moving average is $501.20. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $611.59. The stock has a market cap of $145.95 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the company posted $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share 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. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.17%. Lockheed Martin’s payout ratio is 48.30%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s 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 in the company, 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 can be accessed through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Susquehanna increased their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $568.31.

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.