FormulaFolio Investments LLC Buys 99 Shares of Lockheed Martin Co. (NYSE:LMT)

FormulaFolio Investments LLC grew its stake in Lockheed Martin Co. (NYSE:LMT) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,125 shares of the aerospace company’s stock after purchasing an additional 99 shares during the period. FormulaFolio Investments LLC’s holdings in Lockheed Martin were worth $2,779,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LMT. Chesley Taft & Associates LLC raised its holdings in shares of Lockheed Martin by 0.6% in the third quarter. Chesley Taft & Associates LLC now owns 4,496 shares of the aerospace company’s stock worth $1,754,000 after buying an additional 26 shares during the period. Private Trust Co. NA raised its holdings in shares of Lockheed Martin by 0.5% in the second quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock worth $1,957,000 after buying an additional 28 shares during the period. Independence Bank of Kentucky raised its holdings in shares of Lockheed Martin by 12.0% in the second quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock worth $102,000 after buying an additional 30 shares during the period. Granite Investment Partners LLC raised its holdings in shares of Lockheed Martin by 0.3% in the second quarter. Granite Investment Partners LLC now owns 10,622 shares of the aerospace company’s stock worth $3,862,000 after buying an additional 30 shares during the period. Finally, Marietta Wealth Management LLC raised its holdings in shares of Lockheed Martin by 0.9% in the second quarter. Marietta Wealth Management LLC now owns 3,496 shares of the aerospace company’s stock worth $1,271,000 after buying an additional 30 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.

In related news, Director James D. Taiclet, Jr. purchased 1,354 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the acquisition, the director now owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

LMT has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday. Credit Suisse Group reduced their price objective on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley reduced their price objective on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group raised their price objective on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, DZ Bank restated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $367.79.

Shares of NYSE:LMT traded up $1.50 on Thursday, reaching $374.59. The company had a trading volume of 25,162 shares, compared to its average volume of 1,130,886. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $399.96. The firm’s 50 day simple moving average is $384.37 and its 200-day simple moving average is $359.42. The firm has a market capitalization of $105.53 billion, a PE ratio of 20.95, a PEG ratio of 2.44 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 0.96 and a debt-to-equity ratio of 3.21.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The business had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. During the same period last year, the business posted $5.14 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts predict that Lockheed Martin Co. will post 21.55 earnings per share for the current year.

Lockheed Martin declared that its Board of Directors has initiated a share buyback plan on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The business 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 $2.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.56%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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