RFP Financial Group LLC Grows Holdings in Lockheed Martin Co. (NYSE:LMT)

RFP Financial Group LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 57.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 942 shares of the aerospace company’s stock after acquiring an additional 342 shares during the period. RFP Financial Group LLC’s holdings in Lockheed Martin were worth $551,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter valued at approximately $6,611,000. Verity & Verity LLC lifted its stake in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $1,096,000. Finally, New Mexico Educational Retirement Board boosted its stake in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $32.78 during midday trading on Tuesday, hitting $581.83. The company’s stock had a trading volume of 775,080 shares, compared to its average volume of 1,045,324. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock’s 50 day simple moving average is $579.45 and its 200 day simple moving average is $512.24. The stock has a market capitalization of $139.60 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted $6.73 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. UBS Group boosted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Susquehanna lifted their price target on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $599.93.

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.