76,249 Shares in Lockheed Martin Corporation $LMT Acquired by Jain Global LLC

Jain Global LLC acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 76,249 shares of the aerospace company’s stock, valued at approximately $38,064,000.

A number of other institutional investors and hedge funds have also modified their holdings of LMT. Old North State Wealth Management LLC raised its stake in shares of Lockheed Martin by 2.0% in the third quarter. Old North State Wealth Management LLC now owns 1,073 shares of the aerospace company’s stock worth $539,000 after purchasing an additional 21 shares during the last quarter. GS Investments Inc. boosted its position in shares of Lockheed Martin by 1.0% during the third quarter. GS Investments Inc. now owns 2,231 shares of the aerospace company’s stock valued at $1,114,000 after buying an additional 22 shares during the last quarter. Barnes Wealth Management Group Inc boosted its position in shares of Lockheed Martin by 4.2% during the second quarter. Barnes Wealth Management Group Inc now owns 567 shares of the aerospace company’s stock valued at $263,000 after buying an additional 23 shares during the last quarter. Collective Family Office LLC increased its holdings in Lockheed Martin by 4.6% in the 3rd quarter. Collective Family Office LLC now owns 527 shares of the aerospace company’s stock worth $263,000 after buying an additional 23 shares in the last quarter. Finally, Financial Partners Group Inc raised its position in Lockheed Martin by 4.3% in the 3rd quarter. Financial Partners Group Inc now owns 555 shares of the aerospace company’s stock worth $277,000 after buying an additional 23 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 1.0%

Shares of NYSE:LMT opened at $646.24 on Monday. The stock has a market capitalization of $148.69 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.16 and a beta of 0.22. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. The stock’s 50-day simple moving average is $616.53 and its two-hundred day simple moving average is $525.80. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $692.00.

Lockheed Martin (NYSE:LMT) last released its quarterly 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 firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm earned $7.67 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be given a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s payout ratio is 64.22%.

Analyst Upgrades and Downgrades

LMT has been the topic of several research analyst reports. Royal Bank Of Canada upped their target price on shares of Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Argus lifted their price target on shares of Lockheed Martin from $530.00 to $735.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. TD Cowen boosted their price objective on shares of Lockheed Martin from $600.00 to $670.00 and gave the company a “hold” rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Susquehanna restated a “positive” rating and issued a $660.00 target price on shares of Lockheed Martin in a report on Thursday, January 15th. Six analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $618.95.

Lockheed Martin Company Profile

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.