Perkins Coie Trust Co Purchases 22 Shares of Lockheed Martin Co. (NYSE:LMT)

Perkins Coie Trust Co raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 766 shares of the aerospace company’s stock after acquiring an additional 22 shares during the quarter. Perkins Coie Trust Co’s holdings in Lockheed Martin were worth $448,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at $6,611,000. Verity & Verity LLC increased its position in Lockheed Martin by 3.2% in the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Brevan Howard Capital Management LP increased its position in Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares during the period. Finally, New Mexico Educational Retirement Board increased its position in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares during the period. 74.19% of the stock is owned by institutional investors.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LMT shares. Susquehanna lifted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $568.31.

Lockheed Martin Stock Down 0.5 %

NYSE LMT traded down $3.19 during trading on Wednesday, hitting $604.86. The stock had a trading volume of 49,854 shares, compared to its average volume of 1,057,502. The company has a market capitalization of $145.13 billion, a PE ratio of 22.26, a P/E/G ratio of 4.66 and a beta of 0.47. The company’s 50-day moving average price is $568.68 and its two-hundred day moving average price is $502.34. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $611.59.

Lockheed Martin (NYSE:LMT) last released its 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. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.73 EPS. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 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. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.18%. Lockheed Martin’s payout ratio is presently 48.30%.

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.