Skandinaviska Enskilda Banken AB publ bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, Holdings Channel reports. The fund bought 645 shares of the aerospace company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $104,000. FTB Advisors Inc. grew its holdings in shares of Lockheed Martin by 142.6% in the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after acquiring an additional 211 shares during the period. Fort L.P. acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $116,000. Quad Cities Investment Group LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $131,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Lockheed Martin by 69.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 516 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 211 shares during the period. Institutional investors own 77.97% of the company’s stock.

In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the transaction, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

A number of equities research analysts recently weighed in on LMT shares. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Goldman Sachs Group upgraded Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and upped their price target for the stock from $391.00 to $394.00 in a report on Wednesday, October 24th. Morgan Stanley set a $386.00 target price on Lockheed Martin and gave the company a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Cowen raised Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a research note on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Lockheed Martin has an average rating of “Buy” and a consensus target price of $375.44.

LMT stock opened at $293.86 on Wednesday. Lockheed Martin Co. has a 1 year low of $283.21 and a 1 year high of $363.00. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11. The company has a market capitalization of $83.79 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.77 and a beta of 0.89.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The company had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same quarter in the prior year, the company posted $3.24 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Lockheed Martin Co. will post 17.71 earnings per share for the current year.

Lockheed Martin declared that its Board of Directors has authorized a share repurchase program on Thursday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to buy up to 1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio is currently 60.02%.

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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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