NEOS Investment Management LLC Increases Stock Position in Lockheed Martin Corporation $LMT

NEOS Investment Management LLC boosted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 47.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,203 shares of the aerospace company’s stock after buying an additional 8,075 shares during the quarter. NEOS Investment Management LLC’s holdings in Lockheed Martin were worth $12,582,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LMT. Carnegie Investment Counsel increased its position in shares of Lockheed Martin by 11.4% during the 3rd quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock worth $14,796,000 after purchasing an additional 3,031 shares during the last quarter. VCI Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the third quarter valued at about $3,075,000. DAVENPORT & Co LLC raised its stake in shares of Lockheed Martin by 22.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after acquiring an additional 4,652 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Lockheed Martin by 29.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock valued at $5,010,000 after acquiring an additional 2,270 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Lockheed Martin by 9.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock worth $19,674,000 after acquiring an additional 3,352 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Citigroup boosted their target price on Lockheed Martin from $592.00 to $673.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Royal Bank Of Canada lifted their price objective on Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Susquehanna reiterated a “positive” rating and issued a $660.00 price objective on shares of Lockheed Martin in a report on Thursday, January 15th. UBS Group raised their target price on Lockheed Martin from $580.00 to $663.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $649.18 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The company has a market cap of $149.36 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 1.18 and a beta of 0.23. The stock’s 50-day moving average is $552.83 and its two-hundred day moving average is $497.97. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $656.34.

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

Lockheed Martin Announces Dividend

The company 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 $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.22%.

About Lockheed Martin

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.