Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Virtue Capital Management LLC

Virtue Capital Management LLC raised its position in Lockheed Martin Co. (NYSE:LMT) by 112.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,249 shares of the aerospace company’s stock after purchasing an additional 1,192 shares during the quarter. Virtue Capital Management LLC’s holdings in Lockheed Martin were worth $1,315,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can lifted its position in Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. raised its position in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Old West Investment Management LLC boosted its stake 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 valued at $15,569,000 after buying an additional 1,643 shares during the period. Empower Advisory Group LLC grew its position in shares of Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after buying an additional 1,843 shares in the last quarter. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth approximately $6,611,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.6 %

Lockheed Martin stock opened at $512.85 on Wednesday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The stock has a market cap of $121.57 billion, a PE ratio of 18.57, a P/E/G ratio of 4.19 and a beta of 0.47. The stock has a 50-day moving average price of $561.02 and a 200 day moving average price of $531.86. 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 (NYSE:LMT) last posted its quarterly earnings data 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 return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.57%. 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 47.79%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LMT shares. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus 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.