Kovack Advisors Inc. Buys 65 Shares of Lockheed Martin Co. (NYSE:LMT)

Kovack Advisors Inc. boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 2,270 shares of the aerospace company’s stock after acquiring an additional 65 shares during the period. Kovack Advisors Inc.’s holdings in Lockheed Martin were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mattson Financial Services LLC bought a new position in Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC increased 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 acquiring an additional 20 shares in the last quarter. 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. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC lifted its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Barclays upped their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup boosted 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. Finally, Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Down 1.1 %

Lockheed Martin stock traded down $6.06 during midday trading on Wednesday, reaching $559.90. The stock had a trading volume of 223,832 shares, compared to its average volume of 1,052,062. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a fifty day moving average of $578.09 and a 200 day moving average of $523.56. The firm has a market cap of $132.72 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 4.67 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company earned $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts anticipate 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. 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 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.