Lockheed Martin Corporation $LMT Stock: Keybank National Association OH Boosts Stake

Keybank National Association OH grew its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 11.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 35,429 shares of the aerospace company’s stock after acquiring an additional 3,666 shares during the quarter. Keybank National Association OH’s holdings in Lockheed Martin were worth $18,042,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Lockheed Martin during the second quarter worth approximately $9,617,574,000. Corient Private Wealth LP purchased a new stake in Lockheed Martin during the second quarter valued at approximately $101,960,000. Bank of New York Mellon Corp purchased a new stake in Lockheed Martin during the second quarter valued at approximately $645,258,000. Legal & General Group Plc purchased a new stake in Lockheed Martin during the second quarter valued at approximately $497,469,000. Finally, Sanders Capital LLC lifted its stake in shares of Lockheed Martin by 44.8% in 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 last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Lockheed Martin

Here are a few of the latest headlines about LMT:

• Positive Sentiment: Recent commentary points to a record $292 billion backlog, existing contracts and an F-35 framework that supports planning and investment. Those factors provide revenue visibility despite debate over next year’s defense budget. Lockheed Martin Stock (LMT) Looks Attractive Despite the Budget Debate
• Positive Sentiment: Coverage of Lockheed Martin’s October rally cites strong third-quarter results and longer-term F-35 and missile demand, along with long-term procurement agreements with the Department of Defense. This reinforces the favorable earnings and demand outlook, though it largely reflects previously reported news. Why Lockheed Martin Rallied in October
• Negative Sentiment: Uncertainty about next year’s Pentagon budget could weigh on investor expectations for future defense spending. The existing backlog and contracts may cushion this risk, but do not eliminate it. Lockheed Martin Stock Looks Attractive Despite the Budget Debate

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 17th. Jefferies Financial Group reissued a “hold” rating and set a $615.00 target price on shares of Lockheed Martin in a research report on Sunday, October 25th. Wells Fargo & Company increased their price target on Lockheed Martin from $600.00 to $700.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. UBS Group raised their target price on shares of Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on Lockheed Martin from $620.00 to $665.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $647.00.

Lockheed Martin Trading Up 1.0%

LMT opened at $608.94 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. The stock’s fifty day moving average is $550.90 and its two-hundred day moving average is $569.81. The company has a market capitalization of $140.67 billion, a P/E ratio of 21.63, a PEG ratio of 1.28 and a beta of 0.07. Lockheed Martin Corporation has a 52 week low of $437.25 and a 52 week high of $692.00.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, topping the consensus estimate of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The business had revenue of $20.71 billion during the quarter, compared to analysts’ expectations of $20.48 billion. During the same period in the prior year, the business earned $6.95 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts forecast that Lockheed Martin Corporation will post 30.66 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a dividend of $3.60 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, December 1st. Lockheed Martin’s payout ratio is 49.02%.

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.