American Financial Network Advisory Services LLC increased its stake in Lockheed Martin Co. (NYSE:LMT) by 2,430.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,136 shares of the aerospace company’s stock after buying an additional 4,933 shares during the quarter. Lockheed Martin comprises 0.9% of American Financial Network Advisory Services LLC’s portfolio, making the stock its 20th largest position. American Financial Network Advisory Services LLC’s holdings in Lockheed Martin were worth $1,777,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of LMT. Canton Hathaway LLC purchased a new position in Lockheed Martin in the third quarter valued at about $104,000. FTB Advisors Inc. boosted its holdings in Lockheed Martin by 142.6% in the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after purchasing an additional 211 shares during the last quarter. Fort L.P. purchased a new position in Lockheed Martin in the second quarter valued at about $116,000. FNY Investment Advisers LLC purchased a new position in Lockheed Martin in the second quarter valued at about $117,000. Finally, Quad Cities Investment Group LLC purchased a new position in Lockheed Martin in the second quarter valued at about $131,000. Institutional investors and hedge funds own 77.94% of the company’s stock.

A number of brokerages recently commented on LMT. Morgan Stanley increased their price target on Lockheed Martin from $352.00 to $377.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. Stifel Nicolaus reduced their price target on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Cowen raised Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price target for the company in a report on Wednesday, July 25th. Finally, Berenberg Bank raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $377.14.

In related news, Chairman Marillyn A. Hewson sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the sale, the chairman now owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maryanne Lavan sold 7,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the sale, the senior vice president now directly owns 9,869 shares in the company, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

NYSE:LMT traded down $0.27 during trading hours on Friday, reaching $327.73. 41,348 shares of the stock were exchanged, compared to its average volume of 1,277,888. The company has a quick ratio of 0.97, a current ratio of 1.19 and a debt-to-equity ratio of 28.14. Lockheed Martin Co. has a 52 week low of $291.52 and a 52 week high of $363.00. The company has a market cap of $94.95 billion, a PE ratio of 24.67, a P/E/G ratio of 2.64 and a beta of 0.71.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The company had revenue of $13.40 billion for the quarter, compared to the consensus estimate of $12.72 billion. During the same quarter last year, the business posted $3.23 EPS. Lockheed Martin’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin Co. will post 17.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio (DPR) is currently 60.02%.

Lockheed Martin announced that its Board of Directors has initiated a stock repurchase program on Thursday, September 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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