Empirical Finance LLC Increases Holdings in Lockheed Martin Co. (NYSE:LMT)

Empirical Finance LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,802 shares of the aerospace company’s stock after buying an additional 124 shares during the period. Empirical Finance LLC’s holdings in Lockheed Martin were worth $4,561,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC purchased a new position in Lockheed Martin in the second quarter worth $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted 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 worth $29,000 after acquiring an additional 25 shares during the last quarter. Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC acquired a new position in Lockheed Martin in the third quarter valued at $32,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.6 %

NYSE:LMT opened at $535.69 on Friday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market cap of $126.98 billion, a PE ratio of 19.52, a P/E/G ratio of 4.56 and a beta of 0.49. The business’s 50 day moving average is $577.75 and its two-hundred day moving average is $523.80.

Lockheed Martin (NYSE:LMT) last announced its quarterly 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 business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. 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 dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LMT. Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup raised their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin 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.