Balboa Wealth Partners Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Balboa Wealth Partners raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,556 shares of the aerospace company’s stock after buying an additional 183 shares during the quarter. Balboa Wealth Partners’ holdings in Lockheed Martin were worth $909,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Oak Harbor Wealth Partners LLC boosted its stake in Lockheed Martin by 15.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 1,046 shares of the aerospace company’s stock valued at $611,000 after buying an additional 141 shares in the last quarter. Lummis Asset Management LP grew its position in Lockheed Martin by 5,625.0% during the third quarter. Lummis Asset Management LP now owns 229 shares of the aerospace company’s stock valued at $134,000 after purchasing an additional 225 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Lockheed Martin by 6.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,555 shares of the aerospace company’s stock worth $3,247,000 after acquiring an additional 358 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Lockheed Martin by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,823 shares of the aerospace company’s stock valued at $3,988,000 after buying an additional 77 shares during the last quarter. Finally, Curi RMB Capital LLC increased its position in Lockheed Martin by 15.0% during the third quarter. Curi RMB Capital LLC now owns 6,137 shares of the aerospace company’s stock worth $3,587,000 after buying an additional 799 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent research reports. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Susquehanna lowered their price objective 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. Finally, Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Down 3.4 %

LMT stock opened at $539.04 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year 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 firm’s fifty day moving average is $577.75 and its 200 day moving average is $523.80. The firm has a market cap of $127.77 billion, a PE ratio of 19.52, a P/E/G ratio of 4.56 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. On average, research analysts forecast that Lockheed Martin Co. will post 26.89 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. Stockholders 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 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.