Cohen Capital Management Inc. Grows Position in Lockheed Martin Co. (NYSE:LMT)

Cohen Capital Management Inc. boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 40.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 637 shares of the aerospace company’s stock after buying an additional 185 shares during the quarter. Cohen Capital Management Inc.’s holdings in Lockheed Martin were worth $372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC bought a new position in Lockheed Martin during the third quarter valued at approximately $32,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter worth $27,000. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC increased its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin in the first quarter worth about $30,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird increased their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reduced their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

LMT opened at $545.90 on Monday. The stock has a market capitalization of $129.40 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.47 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a fifty day moving average of $579.25 and a 200 day moving average of $518.86.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio 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.