Patton Albertson Miller Group LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Patton Albertson Miller Group LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, Holdings Channel reports. The fund bought 350 shares of the aerospace company’s stock, valued at approximately $205,000.

Other hedge funds also recently made changes to their positions in the company. Qsemble Capital Management LP raised its holdings in shares of Lockheed Martin by 64.8% during the 3rd quarter. Qsemble Capital Management LP now owns 7,515 shares of the aerospace company’s stock worth $4,393,000 after acquiring an additional 2,956 shares in the last quarter. Bank of Montreal Can lifted its position in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Capital Square LLC increased its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Capital Square LLC now owns 1,477 shares of the aerospace company’s stock worth $863,000 after buying an additional 26 shares during the last quarter. Private Trust Co. NA raised its position in shares of Lockheed Martin by 0.9% during the 3rd quarter. Private Trust Co. NA now owns 4,306 shares of the aerospace company’s stock valued at $2,517,000 after buying an additional 39 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Lockheed Martin by 18.6% in the 3rd quarter. Truvestments Capital LLC now owns 6,118 shares of the aerospace company’s stock valued at $3,577,000 after acquiring an additional 958 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of LMT opened at $521.48 on Wednesday. The stock has a market capitalization of $123.61 billion, a PE ratio of 18.88, a PEG ratio of 4.27 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a 50 day moving average price of $571.19 and a 200-day moving average price of $528.54.

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

Lockheed Martin Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.53%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada decreased their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna reduced their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.