StoneRidge PMG Advisors LLC Makes New Investment in Lockheed Martin Corporation $LMT

StoneRidge PMG Advisors LLC acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,518 shares of the aerospace company’s stock, valued at approximately $773,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Lockheed Martin during the second quarter worth about $9,617,574,000. Corient Private Wealth LP bought a new stake in shares of Lockheed Martin in the second quarter worth about $101,960,000. Bank of New York Mellon Corp bought a new stake in shares of Lockheed Martin in the second quarter worth about $645,258,000. Legal & General Group Plc bought a new stake in shares of Lockheed Martin in the second quarter worth about $497,469,000. Finally, Sanders Capital LLC increased its holdings in Lockheed Martin by 44.8% during the 3rd quarter. Sanders Capital LLC now owns 3,030,638 shares of the aerospace company’s stock valued at $1,543,352,000 after purchasing an additional 937,105 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

More Lockheed Martin News

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

Lockheed Martin Trading Down 0.1%

NYSE:LMT opened at $566.43 on Monday. The company has a 50-day moving average price of $548.25 and a 200-day moving average price of $569.65. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The stock has a market cap of $130.85 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.20 and a beta of 0.07.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The firm had revenue of $20.71 billion for the quarter, compared to analyst estimates of $20.48 billion. During the same quarter in the previous year, the firm posted $6.95 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts predict that Lockheed Martin Corporation will post 30.66 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a $3.60 dividend. This represents a $14.40 annualized dividend and a yield of 2.5%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is 49.02%.

Analyst Ratings Changes

A number of research analysts have commented on LMT shares. Vertical Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price target for the company in a research report on Wednesday, October 14th. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $600.00 to $700.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Sanford C. Bernstein reduced their target price on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $647.00.

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.