Westpac Banking Corp Buys 911 Shares of Lockheed Martin Corporation $LMT

Westpac Banking Corp raised its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 50.8% during the third quarter, HoldingsChannel reports. The fund owned 2,703 shares of the aerospace company’s stock after acquiring an additional 911 shares during the quarter. Westpac Banking Corp’s holdings in Lockheed Martin were worth $1,349,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Carnegie Investment Counsel grew its stake in shares of Lockheed Martin by 11.4% during the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock valued at $14,796,000 after buying an additional 3,031 shares during the last quarter. VCI Wealth Management LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at $3,075,000. DAVENPORT & Co LLC grew its position in 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 last quarter. Farther Finance Advisors LLC increased its stake in Lockheed Martin by 29.2% in the third quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock worth $5,010,000 after purchasing an additional 2,270 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Lockheed Martin by 9.3% in the third quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock worth $19,674,000 after purchasing an additional 3,352 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. DZ Bank cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a report on Tuesday, February 3rd. Truist Financial upped their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. BNP Paribas Exane lifted their price target on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Susquehanna reiterated a “positive” rating and issued a $660.00 price target on shares of Lockheed Martin in a report on Thursday, January 15th. Finally, UBS Group raised their price objective on Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Price Performance

NYSE LMT opened at $641.47 on Friday. The company has a market cap of $147.59 billion, a PE ratio of 29.85, a P/E/G ratio of 1.17 and a beta of 0.23. The firm’s 50 day moving average price is $578.05 and its 200-day moving average price is $508.04. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $669.75.

Lockheed Martin (NYSE:LMT) last issued 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). The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $7.67 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be given 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 yield of 2.2%. 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.