Truvestments Capital LLC Purchases 958 Shares of Lockheed Martin Co. (NYSE:LMT)

Truvestments Capital LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 18.6% in the third quarter, HoldingsChannel reports. The firm owned 6,118 shares of the aerospace company’s stock after purchasing an additional 958 shares during the quarter. Lockheed Martin accounts for 1.0% of Truvestments Capital LLC’s portfolio, making the stock its 20th largest position. Truvestments Capital LLC’s holdings in Lockheed Martin were worth $3,577,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the third quarter valued at approximately $32,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC lifted its position in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Finally, Stephens Consulting LLC boosted its stake in Lockheed Martin by 48.9% during the second 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. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $537.04 on Monday. The firm has a market cap of $127.30 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.43 and a beta of 0.49. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company’s 50 day moving average is $573.12 and its 200 day moving average is $527.79.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.46%. Lockheed Martin’s payout ratio is currently 45.62%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LMT. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Susquehanna decreased their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada cut their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

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.