Lockheed Martin Co. (NYSE:LMT) Shares Bought by Dearborn Partners LLC

Dearborn Partners LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 2,311 shares of the aerospace company’s stock after purchasing an additional 52 shares during the quarter. Dearborn Partners LLC’s holdings in Lockheed Martin were worth $1,351,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Old West Investment Management LLC boosted its position in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the period. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at $6,611,000. Empower Advisory Group LLC raised its position in Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after buying an additional 1,843 shares during the period. Finally, Financial Enhancement Group LLC lifted its stake in Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after acquiring an additional 10,003 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on LMT. Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Down 3.4 %

LMT stock opened at $539.04 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 current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The business’s 50 day moving average is $577.75 and its 200-day moving average is $523.80. The firm has a market cap of $127.77 billion, a P/E ratio of 19.52, a P/E/G ratio of 4.56 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) 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 analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.77 earnings per share. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 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.