Ballentine Partners LLC Acquires 176 Shares of Lockheed Martin Co. (NYSE:LMT)

Ballentine Partners LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,772 shares of the aerospace company’s stock after purchasing an additional 176 shares during the period. Ballentine Partners LLC’s holdings in Lockheed Martin were worth $2,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stokes Family Office LLC purchased a new stake in shares of Lockheed Martin during the first quarter valued at approximately $425,000. Hennessy Advisors Inc. purchased a new stake in Lockheed Martin during the 1st quarter valued at $2,775,000. Webster Bank N. A. boosted its stake in Lockheed Martin by 34.7% during the 1st quarter. Webster Bank N. A. now owns 194 shares of the aerospace company’s stock valued at $88,000 after purchasing an additional 50 shares during the last quarter. Chemung Canal Trust Co. increased its holdings in shares of Lockheed Martin by 3.4% in the 1st quarter. Chemung Canal Trust Co. now owns 2,199 shares of the aerospace company’s stock worth $1,000,000 after purchasing an additional 73 shares in the last quarter. Finally, Vicus Capital raised its stake in shares of Lockheed Martin by 9.7% in the first quarter. Vicus Capital now owns 2,388 shares of the aerospace company’s stock worth $1,086,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LMT shares. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Performance

Shares of LMT opened at $562.29 on Friday. The business has a 50-day simple moving average of $580.03 and a two-hundred day simple moving average of $513.85. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The stock has a market cap of $134.03 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend 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 2.35%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

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.