Lummis Asset Management LP Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Lummis Asset Management LP grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 5,625.0% in the third quarter, HoldingsChannel reports. The firm owned 229 shares of the aerospace company’s stock after buying an additional 225 shares during the quarter. Lummis Asset Management LP’s holdings in Lockheed Martin were worth $134,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC lifted its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the 1st quarter worth $30,000. Finally, Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 0.6 %

Lockheed Martin stock traded down $3.50 during midday trading on Thursday, hitting $554.23. 79,416 shares of the company’s stock were exchanged, compared to its average volume of 1,051,710. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month 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 market cap of $131.37 billion, a PE ratio of 20.19, a P/E/G ratio of 4.63 and a beta of 0.49. The firm has a 50-day moving average of $577.75 and a two-hundred day moving average of $523.80.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $6.77 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share 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 paid 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 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 47.79%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent research reports. 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. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin 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.