Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Lockheed Martin Co. (NYSE:LMT)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lockheed Martin Co. (NYSE:LMT) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,372 shares of the aerospace company’s stock after purchasing an additional 580 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lockheed Martin were worth $13,662,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LMT. Ballast Inc. acquired a new stake in Lockheed Martin during the third quarter worth about $222,000. Sweet Financial Partners LLC grew its holdings in Lockheed Martin by 5.2% in the third quarter. Sweet Financial Partners LLC now owns 4,668 shares of the aerospace company’s stock valued at $2,729,000 after purchasing an additional 229 shares during the period. TruWealth Advisors LLC grew its holdings in Lockheed Martin by 63.1% in the third quarter. TruWealth Advisors LLC now owns 42,116 shares of the aerospace company’s stock valued at $24,619,000 after purchasing an additional 16,289 shares during the period. Vista Investment Partners LLC acquired a new stake in Lockheed Martin in the third quarter valued at approximately $201,000. Finally, Drake & Associates LLC grew its holdings in Lockheed Martin by 25.6% in the third quarter. Drake & Associates LLC now owns 775 shares of the aerospace company’s stock valued at $453,000 after purchasing an additional 158 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $611.76 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $614.62. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company has a market cap of $146.78 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 4.84 and a beta of 0.47. The business’s 50 day moving average price is $578.29 and its 200 day moving average price is $510.27.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the business earned $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

Analyst Upgrades and Downgrades

Several analysts have commented on LMT shares. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays raised their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $597.92.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.