International Assets Investment Management LLC Purchases 1,556,609 Shares of Lockheed Martin Co. (NYSE:LMT)

International Assets Investment Management LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 60,592.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,559,178 shares of the aerospace company’s stock after acquiring an additional 1,556,609 shares during the quarter. International Assets Investment Management LLC’s holdings in Lockheed Martin were worth $911,433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LMT. Stokes Family Office LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth about $425,000. Wealthcare Advisory Partners LLC boosted its holdings in shares of Lockheed Martin by 15.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,681 shares of the aerospace company’s stock worth $4,404,000 after buying an additional 1,291 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lockheed Martin by 9.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 132,611 shares of the aerospace company’s stock worth $60,321,000 after buying an additional 11,970 shares during the period. Chesley Taft & Associates LLC boosted its holdings in Lockheed Martin by 5.3% in the 1st quarter. Chesley Taft & Associates LLC now owns 2,001 shares of the aerospace company’s stock valued at $910,000 after purchasing an additional 100 shares during the period. Finally, Thrive Wealth Management LLC boosted its holdings in Lockheed Martin by 1.1% in the 1st quarter. Thrive Wealth Management LLC now owns 3,736 shares of the aerospace company’s stock valued at $1,699,000 after purchasing an additional 39 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LMT. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays boosted their price objective on shares of 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 boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Finally, Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Price Performance

LMT stock opened at $571.10 on Thursday. The company has a 50 day simple moving average of $579.95 and a 200 day simple moving average of $513.50. The stock has a market cap of $137.03 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

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. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. Research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current fiscal 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 given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 48.30%.

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.