Miller Investment Management LP Takes $224,000 Position in Lockheed Martin Co. (NYSE:LMT)

Miller Investment Management LP purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 383 shares of the aerospace company’s stock, valued at approximately $224,000.

Several other hedge funds also recently added to or reduced their stakes in LMT. International Assets Investment Management LLC boosted its position in shares of Lockheed Martin by 60,592.0% during 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 buying an additional 1,556,609 shares during the period. Wulff Hansen & CO. boosted its holdings in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC grew its stake in Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. FMR LLC increased its holdings in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. Finally, Legal & General Group Plc raised its position in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.7 %

Shares of Lockheed Martin stock opened at $516.84 on Wednesday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The firm’s 50 day simple moving average is $566.31 and its two-hundred day simple moving average is $530.55. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $122.51 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 4.25 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results 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. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $6.77 EPS. Analysts predict that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.55%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent research reports. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $611.00.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.