Oppenheimer Asset Management Inc. Increases Position in Lockheed Martin Co. (NYSE:LMT)

Oppenheimer Asset Management Inc. increased its position in Lockheed Martin Co. (NYSE:LMT) by 0.1% in the third quarter, HoldingsChannel.com reports. The fund owned 25,765 shares of the aerospace company’s stock after buying an additional 27 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lockheed Martin were worth $15,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Russell Investments Group Ltd. raised its holdings in shares of Lockheed Martin by 10.1% during the first quarter. Russell Investments Group Ltd. now owns 54,030 shares of the aerospace company’s stock worth $24,577,000 after purchasing an additional 4,976 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $30,000. Kingsview Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 2.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 17,369 shares of the aerospace company’s stock valued at $7,901,000 after buying an additional 475 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Lockheed Martin by 1.5% in the first quarter. Lord Abbett & CO. LLC now owns 112,070 shares of the aerospace company’s stock worth $50,977,000 after buying an additional 1,628 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Lockheed Martin by 8.8% during the first quarter. Blair William & Co. IL now owns 31,819 shares of the aerospace company’s stock worth $14,474,000 after acquiring an additional 2,563 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LMT. Citigroup boosted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $557.73 on Thursday. 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 business’s 50 day moving average price is $578.09 and its 200 day moving average price is $523.56. The company has a market cap of $132.20 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 4.63 and a beta of 0.49. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

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.