Lederer & Associates Investment Counsel CA Invests $213,000 in Lockheed Martin Co. (NYSE:LMT)

Lederer & Associates Investment Counsel CA purchased a new stake 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 institutional investor purchased 365 shares of the aerospace company’s stock, valued at approximately $213,000.

Several other hedge funds have also added to or reduced their stakes in LMT. Ameriprise Financial Inc. lifted its stake in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the period. International Assets Investment Management LLC increased its holdings in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Legal & General Group Plc lifted its stake in Lockheed Martin by 14.9% in 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 buying an additional 180,074 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its holdings in 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 during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna lowered their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted 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. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $558.37 on Monday. The stock has a market capitalization of $133.09 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The stock’s 50 day moving average price is $580.07 and its two-hundred day moving average price is $515.53.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current 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 paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.36%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 45.62%.

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.