IAM Advisory LLC Purchases Shares of 2,429 Lockheed Martin Co. (NYSE:LMT)

IAM Advisory LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,429 shares of the aerospace company’s stock, valued at approximately $867,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Schneider Downs Wealth Management Advisors LP purchased a new stake in Lockheed Martin during the 3rd quarter valued at $232,000. Atalanta Sosnoff Capital LLC lifted its position in shares of Lockheed Martin by 10.0% in the 3rd quarter. Atalanta Sosnoff Capital LLC now owns 628 shares of the aerospace company’s stock worth $217,000 after purchasing an additional 57 shares during the period. Stolper Co lifted its position in shares of Lockheed Martin by 4.2% in the 3rd quarter. Stolper Co now owns 3,852 shares of the aerospace company’s stock worth $1,329,000 after purchasing an additional 155 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Lockheed Martin by 454.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,777 shares of the aerospace company’s stock worth $2,127,000 after purchasing an additional 18,670 shares during the period. Finally, Benson Investment Management Company Inc. lifted its position in shares of Lockheed Martin by 0.3% in the 3rd quarter. Benson Investment Management Company Inc. now owns 10,578 shares of the aerospace company’s stock worth $3,650,000 after purchasing an additional 35 shares during the period. 74.43% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on LMT shares. Robert W. Baird dropped their target price on shares of Lockheed Martin from $394.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, October 27th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Morgan Stanley dropped their target price on shares of Lockheed Martin from $458.00 to $430.00 and set an “overweight” rating for the company in a research report on Thursday, November 4th. Cowen cut shares of Lockheed Martin from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $400.00 to $375.00 in a research report on Wednesday, September 29th. Finally, UBS Group decreased their price target on shares of Lockheed Martin from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Wednesday, October 27th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $380.40.

Shares of NYSE LMT opened at $343.58 on Thursday. Lockheed Martin Co. has a fifty-two week low of $319.81 and a fifty-two week high of $396.99. The company has a 50 day simple moving average of $347.00 and a two-hundred day simple moving average of $364.29. The company has a market capitalization of $94.75 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 3.37 and a beta of 0.94. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.23 and a current ratio of 1.42.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Monday, October 25th. The aerospace company reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.24. Lockheed Martin had a net margin of 9.13% and a return on equity of 104.60%. The company had revenue of $16.03 billion during the quarter, compared to the consensus estimate of $17.12 billion. During the same quarter last year, the firm earned $6.25 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Lockheed Martin Co. will post 28.49 earnings per share for the current fiscal year.

Lockheed Martin announced that its board has approved a stock repurchase plan on Thursday, September 23rd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 27th. Shareholders of record on Wednesday, December 1st will be issued a $2.80 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.60. The ex-dividend date is Tuesday, November 30th. This represents a $11.20 dividend on an annualized basis and a dividend yield of 3.26%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.99%.

Lockheed Martin Company Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business 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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