Hohimer Wealth Management LLC Buys 2,262 Shares of Lockheed Martin Corporation $LMT

Key Points

• Hohimer Wealth Management increased its Lockheed Martin stake by 28.2% in the third quarter, buying 2,262 shares and bringing its holdings to 10,279 shares, valued at about $5.24 million.
• Analysts have a consensus “Moderate Buy” rating and a $647 price target; recent ratings range from holds to buys.
• Lockheed beat quarterly earnings and revenue estimates, with revenue up 11.3% year over year, and raised its quarterly dividend to $3.60 per share.

Hohimer Wealth Management LLC raised its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 28.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,279 shares of the aerospace company's stock after purchasing an additional 2,262 shares during the quarter. Hohimer Wealth Management LLC's holdings in Lockheed Martin were worth $5,235,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Norris Financial Group LLC bought a new stake in Lockheed Martin in the 1st quarter valued at $2,321,000. CX Institutional raised its stake in shares of Lockheed Martin by 527.4% in the 3rd quarter. CX Institutional now owns 18,415 shares of the aerospace company's stock valued at $9,378,000 after buying an additional 15,480 shares in the last quarter. Talon Private Wealth LLC acquired a new position in shares of Lockheed Martin in the 1st quarter valued at $3,743,000. Meeder Asset Management Inc. acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $11,036,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth about $4,796,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent research reports. TD Cowen decreased their target price on shares of Lockheed Martin from $600.00 to $570.00 and set a "hold" rating on the stock in a research report on Friday, October 9th. Barclays upped their target price on shares of Lockheed Martin from $554.00 to $560.00 and gave the company an "equal weight" rating in a research note on Friday, October 23rd. Jefferies Financial Group reissued a "hold" rating and issued a $615.00 price target on shares of Lockheed Martin in a research report on Sunday, October 25th. UBS Group raised their price target on shares of Lockheed Martin from $653.00 to $692.00 and gave the stock a "buy" rating in a research note on Friday, October 23rd. Finally, Guggenheim assumed coverage on Lockheed Martin in a research note on Wednesday, November 4th. They set a "buy" rating and a $735.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $647.00.

Key Stories Impacting Lockheed Martin

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%

Shares of LMT stock opened at $566.43 on Monday. The company has a market capitalization of $130.85 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.20 and a beta of 0.07. Lockheed Martin Corporation has a 12-month low of $437.25 and a 12-month high of $692.00. 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 firm has a 50-day moving average price of $548.25 and a 200 day moving average price of $569.65.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $20.71 billion for the quarter, compared to analysts' expectations of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.95 earnings per share. Research analysts forecast that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a $3.60 dividend. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. Lockheed Martin's dividend payout ratio is presently 49.02%.

Lockheed Martin 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.

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