Cadinha & Co. LLC Buys 26,717 Shares of Lockheed Martin Co. (NYSE:LMT)

Cadinha & Co. LLC raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 1,912.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,114 shares of the aerospace company’s stock after purchasing an additional 26,717 shares during the quarter. Lockheed Martin accounts for 2.8% of Cadinha & Co. LLC’s investment portfolio, making the stock its 20th largest position. Cadinha & Co. LLC’s holdings in Lockheed Martin were worth $16,434,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cypress Wealth Services LLC bought a new position in shares of Lockheed Martin in the third quarter valued at approximately $440,000. Kelly Financial Services LLC raised its holdings in shares of Lockheed Martin by 6.4% during the 3rd quarter. Kelly Financial Services LLC now owns 1,287 shares of the aerospace company’s stock valued at $752,000 after buying an additional 77 shares in the last quarter. USA Financial Formulas bought a new position in Lockheed Martin during the third quarter valued at approximately $233,000. High Note Wealth LLC lifted its holdings in shares of Lockheed Martin by 2.5% in the 3rd quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock worth $2,783,000 after acquiring an additional 117 shares during the last quarter. Finally, Patten Group Inc. grew its holdings in shares of Lockheed Martin by 5.1% in the third quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock worth $1,516,000 after purchasing an additional 126 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. Finally, Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $568.31.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value 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 $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

Lockheed Martin Trading Down 0.5 %

NYSE:LMT traded down $2.76 on Thursday, hitting $602.35. 105,698 shares of the stock were exchanged, compared to its average volume of 1,055,166. The stock has a market cap of $144.53 billion, a PE ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a fifty day moving average of $569.95 and a 200-day moving average of $503.06. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $611.59.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm earned $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts expect 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. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

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.