Goelzer Investment Management Inc. Purchases 131 Shares of Lockheed Martin Co. (NYSE:LMT)

Goelzer Investment Management Inc. boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,191 shares of the aerospace company’s stock after buying an additional 131 shares during the quarter. Lockheed Martin makes up about 1.1% of Goelzer Investment Management Inc.’s holdings, making the stock its 19th biggest holding. Goelzer Investment Management Inc.’s holdings in Lockheed Martin were worth $12,556,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Chesley Taft & Associates LLC increased its position in Lockheed Martin by 0.6% during the 3rd quarter. Chesley Taft & Associates LLC now owns 4,496 shares of the aerospace company’s stock valued at $1,754,000 after purchasing an additional 26 shares during the period. Private Trust Co. NA increased its position in Lockheed Martin by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock valued at $1,957,000 after purchasing an additional 28 shares during the period. Washington Trust Bank increased its position in Lockheed Martin by 2.0% during the 3rd quarter. Washington Trust Bank now owns 1,459 shares of the aerospace company’s stock valued at $569,000 after purchasing an additional 28 shares during the period. Nvwm LLC increased its position in Lockheed Martin by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,096 shares of the aerospace company’s stock valued at $818,000 after purchasing an additional 28 shares during the period. Finally, Karp Capital Management Corp increased its position in Lockheed Martin by 1.0% during the 3rd quarter. Karp Capital Management Corp now owns 2,804 shares of the aerospace company’s stock valued at $1,094,000 after purchasing an additional 28 shares during the period. Institutional investors own 78.79% of the company’s stock.

A number of research analysts have issued reports on the stock. ValuEngine downgraded shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Barclays reissued a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 9th. Buckingham Research boosted their price objective on shares of Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. They noted that the move was a valuation call. Finally, Credit Suisse Group reduced their price objective on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Lockheed Martin presently has a consensus rating of “Buy” and a consensus price target of $371.79.

Shares of NYSE:LMT traded up $1.39 during midday trading on Wednesday, reaching $387.69. The company’s stock had a trading volume of 956,060 shares, compared to its average volume of 1,178,215. The firm has a 50 day moving average of $380.22 and a 200-day moving average of $365.77. The firm has a market capitalization of $107.71 billion, a P/E ratio of 21.72, a PEG ratio of 2.49 and a beta of 0.95. 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 Co. has a 12-month low of $241.18 and a 12-month high of $399.96.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.02 by $0.64. The firm 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 company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.14 EPS. On average, research analysts predict that Lockheed Martin Co. will post 21.62 EPS for the current year.

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 given a $2.40 dividend. The ex-dividend date is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.48%. Lockheed Martin’s dividend payout ratio is currently 49.30%.

Lockheed Martin announced that its board has authorized a share buyback program on Thursday, September 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are 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.

See Also: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).

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

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.