Erste Asset Management GmbH Takes $82,000 Position in Lockheed Martin Co. (NYSE:LMT)

Erste Asset Management GmbH purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 140 shares of the aerospace company’s stock, valued at approximately $82,000.

A number of other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC raised its stake in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. raised its stake in Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares during the period. Salomon & Ludwin LLC raised its stake in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares during the period. Sunburst Financial Group LLC raised its stake in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC raised its stake in Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after buying an additional 19 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.1 %

NYSE:LMT opened at $517.41 on Thursday. The company has a market cap of $122.64 billion, a P/E ratio of 18.73, a P/E/G ratio of 4.25 and a beta of 0.46. The stock’s fifty day moving average price is $565.09 and its two-hundred day moving average price is $530.45. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last posted 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 the consensus estimate of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.55%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LMT shares. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

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.