1,518 Shares of Lockheed Martin Corporation $LMT Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC bought a new position in Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,518 shares of the aerospace company’s stock, valued at approximately $773,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norris Financial Group LLC purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at $2,321,000. CX Institutional lifted its holdings in shares of Lockheed Martin by 527.4% during the 3rd quarter. CX Institutional now owns 18,415 shares of the aerospace company’s stock worth $9,378,000 after acquiring an additional 15,480 shares during the last quarter. Talon Private Wealth LLC purchased a new position in Lockheed Martin in the first quarter worth $3,743,000. Meeder Asset Management Inc. purchased a new position in Lockheed Martin in the second quarter worth $11,036,000. Finally, OneDigital Investment Advisors LLC purchased a new position in Lockheed Martin in the second quarter worth $4,796,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.1%

LMT opened at $566.43 on Monday. The company has a market cap of $130.85 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.20 and a beta of 0.07. The business’s 50-day moving average price is $548.25 and its 200-day moving average price is $569.65. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. The company had revenue of $20.71 billion during the quarter, compared to analyst estimates of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. Lockheed Martin’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.95 EPS. On average, equities analysts expect that Lockheed Martin Corporation will post 30.66 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be paid a $3.60 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a yield of 2.5%. Lockheed Martin’s payout ratio is presently 49.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LMT shares. UBS Group raised their price target on Lockheed Martin from $653.00 to $692.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. TD Cowen dropped their price target on Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a research note on Friday, October 9th. Sanford C. Bernstein cut their price objective on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a report on Wednesday, October 14th. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $620.00 to $665.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Finally, Vertical Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price objective on the stock in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $647.00.

Lockheed Martin News Roundup

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

About Lockheed Martin

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.