NewEdge Wealth LLC Grows Stake in Lockheed Martin Corporation $LMT

NewEdge Wealth LLC raised its holdings in Lockheed Martin Corporation (NYSE:LMT) by 11.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 57,832 shares of the aerospace company’s stock after buying an additional 5,987 shares during the quarter. NewEdge Wealth LLC’s holdings in Lockheed Martin were worth $27,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tableaux LLC lifted its holdings in Lockheed Martin by 34,231.4% in the second quarter. Tableaux LLC now owns 623,115 shares of the aerospace company’s stock worth $288,589,000 after buying an additional 621,300 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Lockheed Martin by 169.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,272 shares of the aerospace company’s stock worth $265,030,000 after purchasing an additional 359,748 shares in the last quarter. Vanguard Group Inc. lifted its position in Lockheed Martin by 1.0% during the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after buying an additional 214,565 shares during the period. Holocene Advisors LP bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $92,628,000. Finally, Natixis boosted its holdings in shares of Lockheed Martin by 1,478.6% during the 2nd quarter. Natixis now owns 203,859 shares of the aerospace company’s stock valued at $94,415,000 after buying an additional 190,945 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.2%

Lockheed Martin stock opened at $650.67 on Thursday. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $660.55. The business’s fifty day moving average is $556.48 and its 200 day moving average is $499.04. The stock has a market capitalization of $149.71 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.53). The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. Lockheed Martin’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.67 EPS. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s payout ratio is 64.22%.

Analyst Ratings Changes

LMT has been the subject of a number of recent research reports. 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 report on Thursday, January 8th. Robert W. Baird raised their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. DZ Bank cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a research report on Tuesday, February 3rd. Jefferies Financial Group raised their price objective on Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research report on Sunday, February 1st. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $654.00 price objective on shares of Lockheed Martin in a research note on Friday, February 6th. Six 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 stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average target price of $612.50.

Lockheed Martin Company Profile

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.