King Luther Capital Management Corp Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

King Luther Capital Management Corp grew its position in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 7,652 shares of the aerospace company’s stock after acquiring an additional 85 shares during the quarter. King Luther Capital Management Corp’s holdings in Lockheed Martin were worth $4,473,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the second quarter worth $27,000. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Stephens Consulting LLC lifted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC bought a new stake in Lockheed Martin during the third quarter worth approximately $32,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the topic of several recent research reports. Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Trading Up 0.0 %

Shares of NYSE LMT opened at $542.22 on Friday. The business has a fifty day moving average price of $573.12 and a 200 day moving average price of $526.94. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $128.53 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 EPS. Equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.43%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is 47.79%.

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.