Garden State Investment Advisory Services LLC Acquires Shares of 361 Lockheed Martin Co. (NYSE:LMT)

Garden State Investment Advisory Services LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 361 shares of the aerospace company’s stock, valued at approximately $211,000.

A number of other large investors have also recently added to or reduced their stakes in LMT. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the 2nd quarter worth about $27,000. Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Stephens Consulting LLC lifted its position in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Burkett Financial Services LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new position in shares of Lockheed Martin in the 2nd quarter worth about $35,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 1.1 %

Lockheed Martin stock opened at $520.29 on Tuesday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company’s 50-day moving average price is $568.75 and its two-hundred day moving average price is $529.80. The stock has a market cap of $123.33 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 4.32 and a beta of 0.47.

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 the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm posted $6.77 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 26.94 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. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.54%. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Barclays increased their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.