Lord Abbett & CO. LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 4.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 55,187 shares of the aerospace company's stock after selling 2,429 shares during the quarter. Lord Abbett & CO. LLC's holdings in Lockheed Martin were worth $32,260,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Lantz Financial LLC lifted its holdings in shares of Lockheed Martin by 2.6% during the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company's stock worth $2,281,000 after buying an additional 123 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Lockheed Martin by 11.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 10,106 shares of the aerospace company's stock valued at $4,720,000 after purchasing an additional 1,030 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $803,000. Pallas Capital Advisors LLC increased its holdings in shares of Lockheed Martin by 5.9% during the second quarter. Pallas Capital Advisors LLC now owns 1,411 shares of the aerospace company's stock worth $671,000 after purchasing an additional 79 shares during the period. Finally, Focus Financial Network Inc. raised its position in shares of Lockheed Martin by 5.3% in the second quarter. Focus Financial Network Inc. now owns 2,416 shares of the aerospace company's stock valued at $1,150,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.
Lockheed Martin Price Performance
Shares of LMT traded down $3.10 during trading hours on Monday, reaching $491.55. The stock had a trading volume of 1,482,923 shares, compared to its average volume of 1,085,307. The stock has a market capitalization of $116.52 billion, a PE ratio of 17.84, a PEG ratio of 4.13 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company's 50-day moving average is $552.79 and its two-hundred day moving average is $533.00.
Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the firm posted $6.77 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 26.88 EPS for the current year.
Lockheed Martin Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's payout ratio is 47.79%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $602.00 to $543.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. Melius upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $612.29.
Get Our Latest Analysis on LMT
Lockheed Martin Profile
(
Free Report)
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.
See Also
Before you consider Lockheed Martin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.
While Lockheed Martin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
