Lockheed Martin Corporation $LMT Holdings Raised by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Lockheed Martin stake by 12.8% in the third quarter, adding 7,857 shares to hold 69,022 shares valued at about $35.1 million.
• Analysts give the stock a “Moderate Buy” consensus, with an average price target of $647; institutional investors collectively own 74.19% of shares.
• Lockheed Martin beat quarterly earnings and revenue estimates, while reporting 11.3% year-over-year revenue growth. It also raised its quarterly dividend to $3.60 per share from $3.45.

Alps Advisors Inc. boosted its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 12.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,022 shares of the aerospace company's stock after purchasing an additional 7,857 shares during the quarter. Alps Advisors Inc.'s holdings in Lockheed Martin were worth $35,149,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Lockheed Martin by 1.3% in the second quarter. State Street Corp now owns 32,975,170 shares of the aerospace company's stock worth $16,799,530,000 after buying an additional 419,582 shares during the period. BlackRock Inc. purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $9,617,574,000. Corient Private Wealth LP acquired a new stake in Lockheed Martin during the 2nd quarter valued at $101,960,000. Sanders Capital LLC lifted its holdings in Lockheed Martin by 44.8% in the third quarter. Sanders Capital LLC now owns 3,030,638 shares of the aerospace company's stock worth $1,543,352,000 after purchasing an additional 937,105 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Lockheed Martin in the 2nd quarter worth about $645,258,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Lockheed Martin from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 9th. Royal Bank Of Canada boosted their price target on Lockheed Martin from $550.00 to $600.00 and gave the company a "sector perform" rating in a report on Friday, October 23rd. Barclays upped their price target 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. Vertical Research upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $600.00 target price for the company in a report on Wednesday, October 14th. Finally, Robert W. Baird set a $700.00 price target on shares of Lockheed Martin in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and an average target price of $647.00.

Trending Headlines about 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 Price Performance

NYSE LMT opened at $566.43 on Friday. Lockheed Martin Corporation has a fifty-two week low of $437.25 and a fifty-two week high of $692.00. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10. The stock's 50-day moving average is $548.25 and its two-hundred day moving average is $569.65. The firm has a market cap of $130.85 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.07.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, topping analysts' consensus estimates of $7.52 by $0.45. The business had revenue of $20.71 billion during the quarter, compared to analysts' expectations of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. Lockheed Martin's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $6.95 earnings per share. On average, analysts anticipate that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. The ex-dividend date is Tuesday, December 1st. 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. Lockheed Martin's dividend payout ratio (DPR) 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.

Lockheed Martin serves the U.S.

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