Principal Financial Group Inc. Grows Stake in Lockheed Martin Co. (NYSE:LMT)

Principal Financial Group Inc. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,879 shares of the aerospace company's stock after acquiring an additional 10,358 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Lockheed Martin worth $158,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company's stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $6,611,000. Old West Investment Management LLC grew its holdings in shares of Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock worth $15,569,000 after purchasing an additional 1,643 shares during the last quarter. Financial Enhancement Group LLC boosted its stake in Lockheed Martin by 2,268.3% in the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company's stock valued at $6,105,000 after acquiring an additional 10,003 shares during the last quarter. Finally, McAdam LLC grew its stake in shares of Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company's stock worth $689,000 after purchasing an additional 594 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 2.5 %

Shares of NYSE LMT traded up $13.61 during mid-day trading on Friday, hitting $565.45. The stock had a trading volume of 793,711 shares, compared to its average volume of 1,053,237. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a market cap of $134.03 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 4.44 and a beta of 0.49. The business has a 50 day moving average price of $578.42 and a two-hundred day moving average price of $520.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $6.77 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal 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 given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.33%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is presently 45.62%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LMT shares. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. UBS Group boosted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective 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, Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $611.00.

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.