Carderock Capital Management Inc. Purchases 5,905 Shares of Lockheed Martin Co. (NYSE:LMT)

Carderock Capital Management Inc. boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 141.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,094 shares of the aerospace company’s stock after buying an additional 5,905 shares during the quarter. Carderock Capital Management Inc.’s holdings in Lockheed Martin were worth $5,901,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LMT. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at about $32,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC increased its holdings in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $30,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of several research reports. Royal Bank of Canada increased their price objective on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Citigroup raised their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Morgan Stanley increased their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $587.15.

Lockheed Martin Trading Up 1.3 %

NYSE LMT opened at $612.83 on Thursday. The firm’s fifty day moving average price is $575.92 and its 200 day moving average price is $508.46. The company has a market capitalization of $147.04 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $614.62. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.73 earnings per share. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal 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 paid a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.15%. Lockheed Martin’s payout ratio is 48.30%.

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.