Burney Co. Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Burney Co. raised its stake in Lockheed Martin Co. (NYSE:LMT) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,178 shares of the aerospace company’s stock after purchasing an additional 374 shares during the quarter. Burney Co.’s holdings in Lockheed Martin were worth $11,592,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. raised its position in Lockheed Martin by 100.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 30 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new position in Lockheed Martin during the fourth quarter worth about $31,000. Cascade Investment Advisors Inc. acquired a new stake in Lockheed Martin in the first quarter valued at about $35,000. Alaska Permanent Fund Corp purchased a new stake in Lockheed Martin in the 2nd quarter valued at approximately $35,000. Finally, KB Financial Partners LLC acquired a new position in Lockheed Martin during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Lockheed Martin from $532.00 to $510.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lockheed Martin in a research note on Wednesday, September 27th. They set a “hold” rating and a $435.00 price target on the stock. UBS Group assumed coverage on shares of Lockheed Martin in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $470.00 price objective for the company. Citigroup lowered their target price on shares of Lockheed Martin from $555.00 to $540.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Finally, Jefferies Financial Group reduced their price target on shares of Lockheed Martin from $505.00 to $455.00 and set a “hold” rating for the company in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $484.07.

Lockheed Martin Price Performance

NYSE:LMT traded up $0.76 during trading hours on Tuesday, reaching $445.79. 171,069 shares of the company traded hands, compared to its average volume of 1,247,102. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.36 and a quick ratio of 1.16. The firm’s 50-day moving average is $431.46 and its 200-day moving average is $446.32. The stock has a market cap of $110.60 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.90 and a beta of 0.60. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $508.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 17th. The aerospace company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.67 by $0.10. Lockheed Martin had a return on equity of 75.46% and a net margin of 10.29%. The business had revenue of $16.88 billion for the quarter, compared to analyst estimates of $16.73 billion. During the same quarter last year, the company earned $6.87 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin Co. will post 27.17 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.00. Lockheed Martin’s payout ratio is currently 43.84%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.