Verus Capital Partners LLC Has $1.35 Million Position in Lockheed Martin Co. (NYSE:LMT)

Verus Capital Partners LLC boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,308 shares of the aerospace company’s stock after acquiring an additional 312 shares during the quarter. Verus Capital Partners LLC’s holdings in Lockheed Martin were worth $1,349,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC increased its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC lifted its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC grew its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LMT. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays upped their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $570.58 on Tuesday. The company has a 50 day moving average of $578.11 and a 200-day moving average of $522.83. The company has a market cap of $135.25 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 4.62 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $6.77 earnings per share. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.89 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 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

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.