Harvest Fund Management Co. Ltd Buys Shares of 1,716 Lockheed Martin Co. (NYSE:LMT)

Harvest Fund Management Co. Ltd bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,716 shares of the aerospace company’s stock, valued at approximately $1,003,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC grew its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Stephens Consulting LLC grew its position in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the last quarter. Burkett Financial Services LLC bought a new position in Lockheed Martin in the 3rd quarter valued at $32,000. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LMT shares. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Royal Bank of Canada cut their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Down 3.7 %

Shares of NYSE:LMT opened at $521.89 on Tuesday. The company has a fifty day moving average of $572.10 and a 200-day moving average of $528.17. The company has a market capitalization of $123.71 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

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

Lockheed Martin Increases Dividend

The business 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 dividend on an annualized basis and a yield of 2.53%. This is an increase 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 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.