Independence Bank of Kentucky Has $1.80 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Independence Bank of Kentucky lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 23.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,086 shares of the aerospace company’s stock after buying an additional 577 shares during the period. Independence Bank of Kentucky’s holdings in Lockheed Martin were worth $1,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Merrion Investment Management Co LLC raised its holdings in shares of Lockheed Martin by 8.8% during the third quarter. Merrion Investment Management Co LLC now owns 495 shares of the aerospace company’s stock worth $289,000 after acquiring an additional 40 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth $1,096,000. Cadinha & Co. LLC raised its holdings in shares of Lockheed Martin by 1,912.5% during the third quarter. Cadinha & Co. LLC now owns 28,114 shares of the aerospace company’s stock worth $16,434,000 after acquiring an additional 26,717 shares in the last quarter. Cypress Wealth Services LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth $440,000. Finally, Kelly Financial Services LLC raised its holdings in shares of Lockheed Martin by 6.4% during the third quarter. Kelly Financial Services LLC now owns 1,287 shares of the aerospace company’s stock worth $752,000 after acquiring an additional 77 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

LMT stock traded up $4.48 during trading on Friday, reaching $601.97. 51,728 shares of the stock were exchanged, compared to its average volume of 1,053,746. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $611.59. The company has a market capitalization of $143.49 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The stock has a 50 day simple moving average of $570.92 and a 200-day simple moving average of $503.72. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $6.73 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.19%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.74%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LMT shares. Royal Bank of Canada increased their price objective on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday. Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Susquehanna raised their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $581.77.

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.