Miracle Mile Advisors LLC Purchases 36 Shares of Lockheed Martin Co. (NYSE:LMT)

Miracle Mile Advisors LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 2.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,471 shares of the aerospace company’s stock after purchasing an additional 36 shares during the period. Miracle Mile Advisors LLC’s holdings in Lockheed Martin were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $6,611,000. Verity & Verity LLC increased its position in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after buying an additional 1,071 shares during the period. Brevan Howard Capital Management LP lifted its holdings in shares of Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after buying an additional 5,736 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after acquiring an additional 2,400 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on LMT shares. Wells Fargo & Company increased their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One 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 assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $568.31.

Lockheed Martin Price Performance

LMT stock opened at $608.27 on Wednesday. The firm has a market cap of $145.95 billion, a P/E ratio of 22.26, a P/E/G ratio of 4.66 and a beta of 0.47. The firm’s fifty day moving average is $567.27 and its 200 day moving average is $501.20. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $611.59. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.73 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 annualized dividend and a yield of 2.17%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 48.30%.

Lockheed Martin Company 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.