NorthCrest Asset Manangement LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

NorthCrest Asset Manangement LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,189 shares of the aerospace company’s stock after purchasing an additional 1,186 shares during the quarter. Lockheed Martin comprises about 1.0% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 17th largest holding. NorthCrest Asset Manangement LLC’s holdings in Lockheed Martin were worth $34,015,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Legal & General Group Plc grew its holdings 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 acquiring an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after purchasing an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.3 %

NYSE LMT traded down $1.92 during mid-day trading on Friday, hitting $562.29. The company’s stock had a trading volume of 1,077,563 shares, compared to its average volume of 1,054,995. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock’s fifty day simple moving average is $580.07 and its two-hundred day simple moving average is $514.62. The firm has a market capitalization of $134.03 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47.

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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company earned $6.77 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. 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 dividend payout ratio (DPR) is 45.62%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of analyst reports. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. UBS Group boosted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, TD Cowen boosted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $606.71.

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.