Fmr LLC Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Fmr LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,389,025 shares of the aerospace company’s stock after buying an additional 209,591 shares during the period. Fmr LLC owned approximately 1.43% of Lockheed Martin worth $1,981,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC raised its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $32,000. Finally, Ridgewood Investments LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 0.1 %

LMT stock opened at $521.48 on Wednesday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a market cap of $123.61 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 4.27 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The business has a fifty day simple moving average of $571.19 and a 200-day simple moving average of $528.54.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. On average, equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date 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%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LMT shares. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. TD Cowen raised 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. Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Royal Bank of Canada dropped their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Company 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.