Lockheed Martin Corporation $LMT Stock Position Raised by Synovus Financial Corp

Synovus Financial Corp increased its position in Lockheed Martin Corporation (NYSE:LMT) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 60,004 shares of the aerospace company’s stock after purchasing an additional 1,589 shares during the period. Synovus Financial Corp’s holdings in Lockheed Martin were worth $29,966,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NewEdge Wealth LLC boosted its position in shares of Lockheed Martin by 11.5% in the third quarter. NewEdge Wealth LLC now owns 57,832 shares of the aerospace company’s stock worth $27,362,000 after buying an additional 5,987 shares during the period. Advisors Capital Management LLC boosted its position in Lockheed Martin by 3.0% during the 3rd quarter. Advisors Capital Management LLC now owns 85,255 shares of the aerospace company’s stock worth $42,560,000 after acquiring an additional 2,459 shares during the period. Jacobi Capital Management LLC grew its stake in Lockheed Martin by 2.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 8,238 shares of the aerospace company’s stock valued at $4,112,000 after acquiring an additional 225 shares in the last quarter. First National Bank of Omaha acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $3,155,000. Finally, Axxcess Wealth Management LLC lifted its position in shares of Lockheed Martin by 73.1% in the third quarter. Axxcess Wealth Management LLC now owns 8,484 shares of the aerospace company’s stock worth $4,235,000 after purchasing an additional 3,582 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT stock opened at $650.67 on Thursday. The firm has a 50 day moving average of $556.48 and a two-hundred day moving average of $499.04. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $660.55. The company has a market capitalization of $149.71 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 1.17 and a beta of 0.23. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.53). The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $7.67 EPS. As a group, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be issued a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. Lockheed Martin’s dividend payout ratio is currently 64.22%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $654.00 price objective on shares of Lockheed Martin in a research report on Friday, February 6th. TD Cowen lifted their target price on shares of Lockheed Martin from $600.00 to $670.00 and gave the company a “hold” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, DZ Bank cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price objective for the company. in a research report on Tuesday, February 3rd. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $612.50.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.