Financial Enhancement Group LLC Has $6.11 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Financial Enhancement Group LLC increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2,268.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,444 shares of the aerospace company’s stock after acquiring an additional 10,003 shares during the quarter. Financial Enhancement Group LLC’s holdings in Lockheed Martin were worth $6,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin during the second quarter worth $6,611,000. Old West Investment Management LLC raised its holdings in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after acquiring an additional 1,643 shares during the period. McAdam LLC lifted its position in Lockheed Martin by 101.7% in the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after acquiring an additional 594 shares in the last quarter. Finally, Verity & Verity LLC boosted its stake in Lockheed Martin by 3.2% in the 2nd 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 period. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

LMT opened at $551.50 on Thursday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The business has a 50 day moving average of $578.42 and a 200-day moving average of $520.28. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $130.73 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 4.44 and a beta of 0.49.

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

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. 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.