Bank of Montreal Can Acquires 13,253 Shares of Lockheed Martin Co. (NYSE:LMT)

Bank of Montreal Can raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 656,807 shares of the aerospace company’s stock after acquiring an additional 13,253 shares during the quarter. Bank of Montreal Can’s holdings in Lockheed Martin were worth $382,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter worth approximately $27,000. Sachetta LLC lifted its stake 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 buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC grew its stake in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. Stephens Consulting LLC raised its holdings in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in Lockheed Martin during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock traded down $13.49 during trading on Monday, hitting $528.73. The company had a trading volume of 340,173 shares, compared to its average volume of 1,062,635. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a fifty day moving average price of $573.12 and a two-hundred day moving average price of $527.79. 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 market cap of $125.33 billion, a P/E ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49.

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

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.50%. Lockheed Martin’s dividend payout ratio is 45.62%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average 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.