Intersect Capital LLC Buys 1,386 Shares of Lockheed Martin Co. (NYSE:LMT)

Intersect Capital LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 44.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,470 shares of the aerospace company’s stock after acquiring an additional 1,386 shares during the quarter. Intersect Capital LLC’s holdings in Lockheed Martin were worth $1,744,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LMT. CSat Investment Advisory L.P. lifted its position in Lockheed Martin by 2,992.9% during the second quarter. CSat Investment Advisory L.P. now owns 433 shares of the aerospace company’s stock valued at $158,000 after purchasing an additional 419 shares during the last quarter. Haverford Trust Co. raised its stake in shares of Lockheed Martin by 6.4% in the second quarter. Haverford Trust Co. now owns 33,538 shares of the aerospace company’s stock valued at $12,192,000 after acquiring an additional 2,011 shares during the period. Lucia Wealth Services LLC raised its stake in shares of Lockheed Martin by 78.5% in the second quarter. Lucia Wealth Services LLC now owns 191 shares of the aerospace company’s stock valued at $69,000 after acquiring an additional 84 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Lockheed Martin by 44.6% in the second quarter. Carroll Financial Associates Inc. now owns 1,252 shares of the aerospace company’s stock valued at $455,000 after acquiring an additional 386 shares during the period. Finally, Cibc World Markets Corp raised its stake in shares of Lockheed Martin by 67.1% in the second quarter. Cibc World Markets Corp now owns 69,474 shares of the aerospace company’s stock valued at $25,257,000 after acquiring an additional 27,901 shares during the period. Hedge funds and other institutional investors own 78.57% of the company’s stock.

Several brokerages have recently weighed in on LMT. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Credit Suisse Group reduced their target price on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Buckingham Research increased their target price on shares of Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Morgan Stanley reduced their target price on shares of Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays reissued a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $371.79.

LMT stock traded down $0.48 during trading on Monday, hitting $381.38. The company had a trading volume of 578,861 shares, compared to its average volume of 1,179,435. The firm has a market capitalization of $105.39 billion, a P/E ratio of 21.37, a PEG ratio of 2.44 and a beta of 0.95. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $399.96. The company has a 50 day simple moving average of $380.57 and a 200-day simple moving average of $364.83. The company has a quick ratio of 1.05, a current ratio of 1.28 and a debt-to-equity ratio of 3.21.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.02 by $0.64. The company had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.14 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 21.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $2.40 dividend. This represents a $9.60 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.

Lockheed Martin declared that its board has approved a stock buyback program on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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 (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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