MGB Wealth Management LLC Grows Position in Lockheed Martin Corporation $LMT

MGB Wealth Management LLC raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 87.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,411 shares of the aerospace company’s stock after buying an additional 1,124 shares during the period. MGB Wealth Management LLC’s holdings in Lockheed Martin were worth $1,203,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Tableaux LLC boosted its position in Lockheed Martin by 34,231.4% in the 2nd quarter. Tableaux LLC now owns 623,115 shares of the aerospace company’s stock valued at $288,589,000 after buying an additional 621,300 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Lockheed Martin by 169.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,272 shares of the aerospace company’s stock worth $265,030,000 after purchasing an additional 359,748 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after buying an additional 214,565 shares in the last quarter. Holocene Advisors LP acquired a new stake in Lockheed Martin in the second quarter valued at approximately $92,628,000. Finally, Natixis grew its stake in Lockheed Martin by 1,478.6% during the 2nd quarter. Natixis now owns 203,859 shares of the aerospace company’s stock worth $94,415,000 after buying an additional 190,945 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.9%

LMT opened at $641.47 on Friday. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $669.75. The business has a 50 day moving average price of $578.05 and a two-hundred day moving average price of $508.04. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05. The company has a market cap of $147.59 billion, a PE ratio of 29.85, a P/E/G ratio of 1.17 and a beta of 0.23.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm posted $7.67 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a dividend of $3.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a yield of 2.2%. Lockheed Martin’s dividend payout ratio is presently 64.22%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LMT shares. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. TD Cowen upped their target price on Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Citigroup raised their target price on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Truist Financial upped their price objective on Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $612.50.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.