Miracle Mile Advisors LLC Has $860,000 Stake in Lockheed Martin Co. (NYSE:LMT)

Miracle Mile Advisors LLC boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,471 shares of the aerospace company’s stock after buying an additional 36 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Lockheed Martin were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LMT. IAM Advisory LLC increased its position in Lockheed Martin by 1.3% during the 3rd quarter. IAM Advisory LLC now owns 4,081 shares of the aerospace company’s stock valued at $2,386,000 after purchasing an additional 54 shares during the period. WealthBridge Capital Management LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at $258,000. GAMMA Investing LLC increased its position in shares of Lockheed Martin by 26.1% during the third quarter. GAMMA Investing LLC now owns 4,504 shares of the aerospace company’s stock worth $2,633,000 after buying an additional 932 shares during the period. Cullen Investment Group LTD. increased its position in shares of Lockheed Martin by 7.9% during the third quarter. Cullen Investment Group LTD. now owns 924 shares of the aerospace company’s stock worth $540,000 after buying an additional 68 shares during the period. Finally, Harbor Investment Advisory LLC raised its stake in Lockheed Martin by 2.1% during the third quarter. Harbor Investment Advisory LLC now owns 3,055 shares of the aerospace company’s stock worth $1,786,000 after buying an additional 63 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Up 0.5 %

LMT stock opened at $608.27 on Wednesday. The firm has a market capitalization of $145.95 billion, a PE ratio of 22.26, a P/E/G ratio of 4.66 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $611.59. The stock’s 50 day moving average is $567.27 and its 200-day moving average is $501.20.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the business earned $6.73 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal 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 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 yield of 2.17%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LMT. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group increased their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $568.31.

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.