Cullen Investment Group LTD. Grows Position in Lockheed Martin Co. (NYSE:LMT)

Cullen Investment Group LTD. lifted its position in Lockheed Martin Co. (NYSE:LMT) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 924 shares of the aerospace company’s stock after buying an additional 68 shares during the quarter. Cullen Investment Group LTD.’s holdings in Lockheed Martin were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Harbor Investment Advisory LLC increased its position in shares of Lockheed Martin by 2.1% in the third quarter. Harbor Investment Advisory LLC now owns 3,055 shares of the aerospace company’s stock worth $1,786,000 after purchasing an additional 63 shares during the last quarter. Allied Investment Advisors LLC grew its position in Lockheed Martin by 0.5% during the third quarter. Allied Investment Advisors LLC now owns 18,626 shares of the aerospace company’s stock valued at $10,888,000 after acquiring an additional 91 shares during the last quarter. Fluent Financial LLC bought a new position in shares of Lockheed Martin in the third quarter worth approximately $889,000. SG Americas Securities LLC grew its holdings in shares of Lockheed Martin by 67.5% in the third quarter. SG Americas Securities LLC now owns 64,831 shares of the aerospace company’s stock worth $37,898,000 after purchasing an additional 26,127 shares during the last quarter. Finally, Curbstone Financial Management Corp bought a new position in shares of Lockheed Martin in the third quarter worth approximately $421,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $0.69 during mid-day trading on Friday, reaching $605.13. The stock had a trading volume of 560,051 shares, compared to its average volume of 1,065,046. The business’s fifty day moving average is $565.71 and its 200-day moving average is $499.21. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market cap of $145.19 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $611.49.

Lockheed Martin (NYSE:LMT) last posted its earnings results 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 analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $6.73 earnings per share. On average, research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.18%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Susquehanna boosted their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $562.54.

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.