EP Wealth Advisors LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

EP Wealth Advisors LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 21.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,634 shares of the aerospace company’s stock after acquiring an additional 2,748 shares during the quarter. EP Wealth Advisors LLC’s holdings in Lockheed Martin were worth $9,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lockheed Martin by 60,592.0% during 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. Finally, Legal & General Group Plc raised its position in Lockheed Martin by 14.9% in 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. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.9 %

Shares of LMT opened at $513.03 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The firm has a market capitalization of $121.61 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.22 and a beta of 0.46. The firm’s 50-day moving average price is $562.51 and its 200-day moving average price is $531.12. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its 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 firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.77 EPS. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.57%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Susquehanna dropped their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin 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.