Arete Wealth Advisors LLC Acquires Shares of 3,154 Lockheed Martin Co. (NYSE:LMT)

Arete Wealth Advisors LLC bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,154 shares of the aerospace company’s stock, valued at approximately $1,840,000.

Several other institutional investors and hedge funds have also modified their holdings of LMT. FMR LLC raised its position in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after buying an additional 31,545 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of 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 worth $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Legal & General Group Plc lifted its holdings in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 119,052 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE:LMT opened at $512.85 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a 50-day moving average of $561.02 and a 200-day moving average of $531.86. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a market capitalization of $121.57 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.19 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 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 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 company earned $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LMT shares. Barclays lifted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently 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.