Lockheed Martin Co. (NYSE:LMT) Stock Position Boosted by Financial Partners Group LLC

Financial Partners Group LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,798 shares of the aerospace company’s stock after buying an additional 1,472 shares during the period. Lockheed Martin accounts for about 4.3% of Financial Partners Group LLC’s holdings, making the stock its 4th largest holding. Financial Partners Group LLC’s holdings in Lockheed Martin were worth $11,573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. grew its position in shares of Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares during the last quarter. International Assets Investment Management LLC raised its position in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Legal & General Group Plc boosted its stake in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the period. Dimensional Fund Advisors LP grew its position in Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after purchasing an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. increased its stake in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research reports. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Down 1.2 %

LMT stock opened at $564.21 on Friday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market cap of $135.38 billion, a P/E ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. The company’s 50-day moving average price is $579.95 and its 200 day moving average price is $513.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 EPS. On average, research analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 2.34%. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 48.30%.

Lockheed Martin Company Profile

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.