Aptus Capital Advisors LLC Has $31.49 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Aptus Capital Advisors LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 21.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,861 shares of the aerospace company’s stock after purchasing an additional 9,347 shares during the period. Aptus Capital Advisors LLC’s holdings in Lockheed Martin were worth $31,485,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. CVA Family Office LLC boosted 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 valued at $905,000 after purchasing an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. boosted its position in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after buying an additional 18 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC raised its position in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada decreased their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. One 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. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $2.91 on Tuesday, hitting $567.67. 198,227 shares of the company traded hands, compared to its average volume of 1,051,572. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. 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 firm’s 50-day simple moving average is $578.11 and its 200 day simple moving average is $522.83. The company has a market cap of $134.56 billion, a P/E ratio of 20.55, a P/E/G ratio of 4.62 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 analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the business posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced 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 an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.33%. Lockheed Martin’s payout ratio is 45.62%.

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.