Princeton Capital Management LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

Princeton Capital Management LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 664 shares of the aerospace company’s stock after purchasing an additional 45 shares during the period. Princeton Capital Management LLC’s holdings in Lockheed Martin were worth $388,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter valued at about $27,000. Sachetta LLC raised its stake in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its stake in shares of 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 purchasing an additional 25 shares in the last quarter. Stephens Consulting LLC grew its holdings in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC purchased a new position in Lockheed Martin in the 3rd quarter worth $32,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on LMT shares. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $530.96 on Tuesday. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The stock has a market cap of $125.86 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 4.37 and a beta of 0.49. The stock’s 50 day simple moving average is $575.61 and its two-hundred day simple moving average is $525.71. 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 issued its quarterly 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 company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 earnings per share. As a group, 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. 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 yield of 2.49%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) 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.