Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,146 shares of the aerospace company’s stock after buying an additional 113 shares during the period. Lockheed Martin accounts for about 1.3% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 24th largest position. Investment Research & Advisory Group Inc.’s holdings in Lockheed Martin were worth $3,008,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Lockheed Martin by 60,592.0% during the 3rd 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 in the last quarter. Wulff Hansen & CO. grew its holdings 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 worth $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after buying an additional 440,169 shares during the period. Capital Research Global Investors grew its stake in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares during the period. Finally, National Bank of Canada FI raised its holdings in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after acquiring an additional 218,466 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $564.21 on Friday. The company has a market cap of $135.38 billion, a PE ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm has a 50-day simple moving average of $579.95 and a 200 day simple moving average of $513.50. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the business posted $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed 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 represents a $13.20 annualized dividend and a yield of 2.34%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 48.30%.

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.