Sunbelt Securities Inc. Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Sunbelt Securities Inc. raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,844 shares of the aerospace company’s stock after buying an additional 88 shares during the period. Sunbelt Securities Inc.’s holdings in Lockheed Martin were worth $2,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. Lantz Financial LLC increased its position in shares of Lockheed Martin by 2.6% during the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock worth $2,281,000 after purchasing an additional 123 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Lockheed Martin by 119.9% in the second quarter. V Square Quantitative Management LLC now owns 1,016 shares of the aerospace company’s stock valued at $475,000 after buying an additional 554 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lockheed Martin by 7.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,076 shares of the aerospace company’s stock valued at $14,983,000 after acquiring an additional 2,282 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Lockheed Martin by 4.1% during the second quarter. Cornerstone Wealth Management LLC now owns 2,735 shares of the aerospace company’s stock worth $1,277,000 after acquiring an additional 108 shares during the last quarter. Finally, Red Door Wealth Management LLC increased its holdings in shares of Lockheed Martin by 8.4% in the 2nd quarter. Red Door Wealth Management LLC now owns 9,336 shares of the aerospace company’s stock valued at $4,361,000 after acquiring an additional 721 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.6 %

Shares of LMT opened at $512.85 on Wednesday. The firm’s 50-day moving average is $561.02 and its two-hundred day moving average is $531.86. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $121.57 billion, a P/E ratio of 18.57, a PEG ratio of 4.19 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during 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%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $6.77 EPS. On average, research analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed 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 2.57%. This is a boost 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 is presently 47.79%.

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Barclays raised their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

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.