VestGen Advisors LLC grew its position in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 37.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,338 shares of the aerospace company’s stock after purchasing an additional 2,528 shares during the period. VestGen Advisors LLC’s holdings in Lockheed Martin were worth $4,756,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Stockman Wealth Management Inc. lifted its holdings in Lockheed Martin by 3.2% during the 3rd quarter. Stockman Wealth Management Inc. now owns 23,951 shares of the aerospace company’s stock worth $12,197,000 after buying an additional 740 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the third quarter worth $130,000. Conning Inc. grew its stake in shares of Lockheed Martin by 0.3% in the third quarter. Conning Inc. now owns 71,593 shares of the aerospace company’s stock worth $36,459,000 after acquiring an additional 213 shares in the last quarter. Victory Financial Group LLC increased its position in shares of Lockheed Martin by 27.0% during the third quarter. Victory Financial Group LLC now owns 1,332 shares of the aerospace company’s stock worth $678,000 after acquiring an additional 283 shares during the period. Finally, Great Lakes Retirement Inc. increased its position in shares of Lockheed Martin by 1.6% during the third quarter. Great Lakes Retirement Inc. now owns 23,499 shares of the aerospace company’s stock worth $11,967,000 after acquiring an additional 366 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Key Headlines Impacting Lockheed Martin
Here are the key news stories impacting Lockheed Martin this week:
- Positive Sentiment: Morgan Stanley upgraded LMT to Overweight and raised its price target to $835, arguing that a 10-year F-35 framework with the Pentagon removes significant program risk. The firm also cited Lockheed’s record $292 billion backlog. Lockheed Martin’s F-35 Deal Could Change How Wall Street Values the Stock
- Positive Sentiment: Lockheed received a $694 million U.S. Air Force contract to produce the Air-Launched Rapid Response Weapon hypersonic missile, adding near-term revenue potential and reinforcing its position in advanced weapons. Lockheed Martin to Add Air-Launched Hypersonic Missile to the American Arsenal of Freedom
- Positive Sentiment: A separate Army test demonstrated Lockheed’s ability to redirect an in-flight GMLRS rocket, supporting the company’s role in next-generation integrated fires and missile-defense systems. Lockheed Martin Advances Joint Fires Capability
- Positive Sentiment: Zacks upgraded LMT to Rank #2, or Buy, reflecting improving expectations for earnings. Lockheed Rating Upgrade to Buy
Analyst Ratings Changes
LMT has been the topic of several analyst reports. UBS Group increased their price objective on Lockheed Martin from $653.00 to $692.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Rothschild & Co Redburn started coverage on shares of Lockheed Martin in a report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 target price on the stock. Robert W. Baird set a $700.00 price target on shares of Lockheed Martin in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price target on shares of Lockheed Martin from $550.00 to $600.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Finally, Bank of America reissued a “neutral” rating and issued a $620.00 price objective on shares of Lockheed Martin in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $638.05.
Check Out Our Latest Report on Lockheed Martin
Lockheed Martin Stock Performance
Shares of LMT opened at $630.42 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. Lockheed Martin Corporation has a 52-week low of $437.25 and a 52-week high of $692.00. The stock has a 50 day moving average price of $541.77 and a 200 day moving average price of $567.94. The company has a market capitalization of $145.63 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.29 and a beta of 0.09.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, topping the consensus estimate of $7.52 by $0.45. The business had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.95 EPS. Research analysts predict that Lockheed Martin Corporation will post 30.55 EPS for the current fiscal year.
Lockheed Martin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. Lockheed Martin’s payout ratio is presently 49.02%.
Lockheed Martin Company Profile
Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.
Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.
Lockheed Martin serves the U.S.
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