Fidelis Capital Partners LLC Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Fidelis Capital Partners LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,567 shares of the aerospace company’s stock after purchasing an additional 281 shares during the period. Fidelis Capital Partners LLC’s holdings in Lockheed Martin were worth $3,179,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LMT. SC&H Financial Advisors Inc. purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $219,000. Fortitude Family Office LLC grew its position in Lockheed Martin by 2.1% in the 3rd quarter. Fortitude Family Office LLC now owns 968 shares of the aerospace company’s stock valued at $566,000 after buying an additional 20 shares during the last quarter. Traynor Capital Management Inc. lifted its holdings in Lockheed Martin by 35.7% in the third quarter. Traynor Capital Management Inc. now owns 12,687 shares of the aerospace company’s stock valued at $7,416,000 after acquiring an additional 3,336 shares during the period. abrdn plc lifted its holdings in Lockheed Martin by 14.8% in the third quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock valued at $12,240,000 after acquiring an additional 2,707 shares during the period. Finally, Worth Financial Advisory Group LLC lifted its holdings in Lockheed Martin by 4.6% in the third quarter. Worth Financial Advisory Group LLC now owns 451 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.1 %

Shares of Lockheed Martin stock traded down $6.02 on Tuesday, hitting $549.15. 474,062 shares of the company’s stock traded hands, compared to its average volume of 1,053,197. The stock has a market cap of $131.76 billion, a P/E ratio of 20.20, a PEG ratio of 4.62 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s 50-day moving average is $580.01 and its 200 day moving average is $516.25. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the business posted $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.40%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Analyst Upgrades and Downgrades

A number of research firms have commented on LMT. Royal Bank of Canada reduced their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna reduced their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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.