LRI Investments LLC Purchases 1,010 Shares of Lockheed Martin Co. (NYSE:LMT)

LRI Investments LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 37.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,679 shares of the aerospace company’s stock after buying an additional 1,010 shares during the period. LRI Investments LLC’s holdings in Lockheed Martin were worth $1,983,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $26,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the second quarter worth $27,000. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in the second 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. Finally, Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth about $32,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $513.03 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The stock has a 50 day moving average of $562.51 and a 200 day moving average of $531.55. The firm has a market cap of $121.61 billion, a PE ratio of 18.57, a PEG ratio of 4.19 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 EPS. On average, research analysts expect that Lockheed Martin Co. will post 26.94 EPS 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 paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.57%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Analyst Ratings Changes

A number of research firms have weighed in on LMT. UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday. Susquehanna cut their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, 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.