Shum Financial Group Inc. Takes Position in Lockheed Martin Co. (NYSE:LMT)

Shum Financial Group Inc. acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,334 shares of the aerospace company’s stock, valued at approximately $729,000.

Several other institutional investors and hedge funds have also modified their holdings of LMT. Waverly Advisors LLC lifted its holdings in shares of Lockheed Martin by 168.3% in the 1st quarter. Waverly Advisors LLC now owns 3,839 shares of the aerospace company’s stock valued at $1,747,000 after buying an additional 2,408 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Lockheed Martin by 9.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,313 shares of the aerospace company’s stock worth $7,875,000 after purchasing an additional 1,453 shares during the period. Tidal Investments LLC raised its holdings in Lockheed Martin by 68.2% in the 1st quarter. Tidal Investments LLC now owns 15,696 shares of the aerospace company’s stock worth $7,142,000 after purchasing an additional 6,362 shares during the period. Comerica Bank raised its holdings in Lockheed Martin by 12.4% in the 1st quarter. Comerica Bank now owns 78,572 shares of the aerospace company’s stock worth $35,740,000 after purchasing an additional 8,699 shares during the period. Finally, Beacon Capital Management LLC raised its holdings in Lockheed Martin by 71.9% in the 1st quarter. Beacon Capital Management LLC now owns 385 shares of the aerospace company’s stock worth $175,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.2 %

LMT traded up $0.90 during trading on Tuesday, hitting $522.79. The company’s stock had a trading volume of 201,205 shares, compared to its average volume of 1,072,955. The stock has a market cap of $123.92 billion, a PE ratio of 18.90, a PEG ratio of 4.43 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm’s 50 day moving average price is $572.10 and its 200-day moving average price is $528.17. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 period in the prior year, the company earned $6.77 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company 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. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. Robert W. Baird upped their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.