D.B. Root & Company LLC Has $1.18 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

D.B. Root & Company LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 17.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,012 shares of the aerospace company’s stock after selling 420 shares during the period. D.B. Root & Company LLC’s holdings in Lockheed Martin were worth $1,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Spinnaker Trust grew its holdings in shares of Lockheed Martin by 8.1% in the 3rd quarter. Spinnaker Trust now owns 671 shares of the aerospace company’s stock valued at $392,000 after buying an additional 50 shares during the period. Foster & Motley Inc. lifted its position in Lockheed Martin by 4.2% in the 3rd quarter. Foster & Motley Inc. now owns 10,717 shares of the aerospace company’s stock valued at $6,265,000 after acquiring an additional 431 shares in the last quarter. Old West Investment Management LLC lifted its position in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares in the last quarter. Benchmark Financial Wealth Advisors LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at $391,000. Finally, Radnor Capital Management LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at $1,792,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LMT. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Susquehanna cut their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Up 0.9 %

Shares of LMT opened at $551.50 on Thursday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a market cap of $130.73 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 4.44 and a beta of 0.49. The firm’s 50-day simple moving average is $578.42 and its 200 day simple moving average is $520.28. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

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

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 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.