Lazari Capital Management Inc. Acquires New Holdings in Lockheed Martin Co. (NYSE:LMT)

Lazari Capital Management Inc. acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 348 shares of the aerospace company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wulff Hansen & CO. grew 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 acquiring an additional 1,019,281 shares during the period. Van ECK Associates Corp boosted its position in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares in the last quarter. Capital Research Global Investors grew its stake in shares of 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 purchasing an additional 218,506 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of 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 worth $149,138,000 after purchasing an additional 218,466 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Lockheed Martin by 14.9% during 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 purchasing an additional 180,074 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 6.2 %

Shares of NYSE:LMT opened at $576.72 on Wednesday. The firm has a fifty day moving average of $579.79 and a two-hundred day moving average of $513.10. 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 Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market capitalization of $138.38 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

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, 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 firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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 is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.29%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays upped their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $599.93.

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.