Los Angeles Capital Management LLC Boosts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Los Angeles Capital Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 124.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 450,870 shares of the aerospace company’s stock after purchasing an additional 249,591 shares during the period. Lockheed Martin comprises 1.1% of Los Angeles Capital Management LLC’s holdings, making the stock its 12th biggest position. Los Angeles Capital Management LLC owned 0.19% of Lockheed Martin worth $263,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Stockman Wealth Management Inc. lifted its stake in shares of Lockheed Martin by 1.9% during the 3rd quarter. Stockman Wealth Management Inc. now owns 17,937 shares of the aerospace company’s stock worth $10,485,000 after purchasing an additional 331 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Lockheed Martin by 77.8% during the third quarter. Crossmark Global Holdings Inc. now owns 7,113 shares of the aerospace company’s stock valued at $4,158,000 after acquiring an additional 3,113 shares in the last quarter. Brickley Wealth Management purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at approximately $216,000. Tyler Stone Wealth Management boosted its stake in Lockheed Martin by 105.7% in the 3rd quarter. Tyler Stone Wealth Management now owns 691 shares of the aerospace company’s stock worth $404,000 after purchasing an additional 355 shares in the last quarter. Finally, Baker Avenue Asset Management LP grew its position in Lockheed Martin by 130.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 1,411 shares of the aerospace company’s stock worth $825,000 after purchasing an additional 798 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $12.72 on Friday, reaching $564.56. The company’s stock had a trading volume of 1,166,089 shares, compared to its average volume of 1,011,745. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $133.82 billion, a P/E ratio of 20.44, a PEG ratio of 4.51 and a beta of 0.49. The stock has a 50-day moving average price of $578.06 and a 200-day moving average price of $521.64. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior 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. Analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 47.79%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LMT shares. Wells Fargo & Company raised their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.