Fort Pitt Capital Group LLC Buys 178 Shares of Lockheed Martin Co. (NYSE:LMT)

Fort Pitt Capital Group LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,950 shares of the aerospace company’s stock after purchasing an additional 178 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Lockheed Martin were worth $4,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LMT. GAMMA Investing LLC increased its stake 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 valued at $1,668,000 after buying an additional 2,019 shares during the period. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $6,611,000. McAdam LLC increased its stake in shares of Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after buying an additional 594 shares during the period. Verity & Verity LLC increased its stake in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after buying an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at approximately $1,096,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LMT. 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. Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned 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 Price Performance

Shares of NYSE:LMT opened at $545.35 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business has a fifty day moving average price of $579.25 and a 200-day moving average price of $518.42. The company has a market capitalization of $129.27 billion, a PE ratio of 19.74, a PEG ratio of 4.47 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $17.38 billion. During the same period last year, the company earned $6.77 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.42%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.