Verus Capital Partners LLC Acquires 312 Shares of Lockheed Martin Co. (NYSE:LMT)

Verus Capital Partners LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,308 shares of the aerospace company’s stock after purchasing an additional 312 shares during the quarter. Verus Capital Partners LLC’s holdings in Lockheed Martin were worth $1,349,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in shares of Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares during the period. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the period. Legal & General Group Plc raised its stake in Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after buying an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after buying an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. boosted its position in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

LMT stock opened at $570.58 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market cap of $135.25 billion, a PE ratio of 20.66, a P/E/G ratio of 4.62 and a beta of 0.49. The business has a 50 day moving average of $578.11 and a 200-day moving average of $522.83. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping 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 business posted $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Analyst Ratings Changes

Several equities research analysts recently commented on LMT shares. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Finally, StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.