World Investment Advisors LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 55.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,468 shares of the aerospace company's stock after buying an additional 2,297 shares during the period. World Investment Advisors LLC's holdings in Lockheed Martin were worth $3,781,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth about $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC increased its stake in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after acquiring an additional 20 shares during the period. Stephens Consulting LLC raised its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock worth $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter valued at about $32,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have commented on LMT shares. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. Melius raised Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Bank of America reissued a "buy" rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $612.29.
View Our Latest Research Report on LMT
Lockheed Martin Trading Down 0.4 %
Shares of NYSE:LMT traded down $1.93 during midday trading on Friday, reaching $494.65. The company's stock had a trading volume of 990,249 shares, compared to its average volume of 1,083,834. The business has a 50 day moving average price of $552.79 and a 200 day moving average price of $531.92. 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 $117.25 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.
Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. During the same quarter in the prior year, the company posted $6.77 EPS. The company's quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current year.
Lockheed Martin Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.67%. 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 dividend payout ratio (DPR) is 47.79%.
About Lockheed Martin
(
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.
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