Shum Financial Group Inc. Invests $729,000 in Lockheed Martin Co. (NYSE:LMT)

Shum Financial Group Inc. purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,334 shares of the aerospace company’s stock, valued at approximately $729,000.

Several other large investors have also modified their holdings of LMT. International Assets Investment Management LLC lifted 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 purchasing an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of 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 period. Los Angeles Capital Management LLC increased its stake in shares of Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after acquiring an additional 249,591 shares during the period. FMR LLC increased its stake in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of 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 valued at $646,828,000 after acquiring an additional 180,074 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LMT shares. Susquehanna lowered their price objective 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. Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. UBS Group raised 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. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Up 0.2 %

LMT stock traded up $0.90 during midday trading on Tuesday, reaching $522.79. The company had a trading volume of 201,205 shares, compared to its average volume of 1,072,955. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $123.92 billion, a P/E ratio of 18.90, a PEG ratio of 4.43 and a beta of 0.49. The company has a 50 day moving average of $572.10 and a two-hundred day moving average of $528.17.

Lockheed Martin (NYSE:LMT) last released its 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. The company 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 company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 EPS. On average, equities research analysts expect 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 issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

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.