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

Lummis Asset Management LP lifted its position in Lockheed Martin Co. (NYSE:LMT) by 5,625.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 229 shares of the aerospace company’s stock after acquiring an additional 225 shares during the period. Lummis Asset Management LP’s holdings in Lockheed Martin were worth $134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LMT. GAMMA Investing LLC boosted its stake in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Old West Investment Management LLC raised its position in shares of Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the last quarter. Buck Wealth Strategies LLC bought a new position in Lockheed Martin in the 2nd quarter worth about $6,611,000. Financial Enhancement Group LLC grew its position in Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after purchasing an additional 10,003 shares during the last quarter. Finally, McAdam LLC raised its holdings in Lockheed Martin by 101.7% in the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after buying an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of a number of recent analyst reports. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $3.50 during mid-day trading on Thursday, reaching $554.23. 79,416 shares of the company’s stock traded hands, 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 firm has a 50 day moving average price of $577.75 and a two-hundred day moving average price of $523.80. The firm has a market capitalization of $131.37 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

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 analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. 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 yield of 2.38%. Lockheed Martin’s payout ratio is currently 47.79%.

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.