Harvest Fund Management Co. Ltd Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Harvest Fund Management Co. Ltd purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, HoldingsChannel.com reports. The firm purchased 1,716 shares of the aerospace company’s stock, valued at approximately $1,003,000.

A number of other large investors have also recently bought and sold shares of LMT. Mattson Financial Services LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC grew its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. Burkett Financial Services LLC acquired a new stake in Lockheed Martin during the 3rd quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth about $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 3.7 %

Lockheed Martin stock opened at $521.89 on Tuesday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The firm has a market capitalization of $123.71 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 4.43 and a beta of 0.49. 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 has a 50 day simple moving average of $572.10 and a 200 day simple moving average of $528.17.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the firm earned $6.77 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.53%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. TD Cowen increased their price objective 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. Susquehanna dropped their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus 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.