Pure Portfolios Holdings LLC Invests $635,000 in Lockheed Martin Co. (NYSE:LMT)

Pure Portfolios Holdings LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,086 shares of the aerospace company’s stock, valued at approximately $635,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC purchased a new stake in Lockheed Martin during the second quarter worth approximately $6,611,000. Verity & Verity LLC boosted its holdings in Lockheed Martin by 3.2% in the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Lockheed Martin in the third quarter valued at approximately $1,096,000. Finally, New Mexico Educational Retirement Board raised its holdings in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LMT. UBS Group upped their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Susquehanna raised their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $597.92.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $611.81 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market cap of $146.80 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The firm’s fifty day moving average price is $578.29 and its 200 day moving average price is $510.67. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $614.62.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.73 earnings per share. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 48.30%.

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.