Lockheed Martin Corporation $LMT Stock: Kestra Private Wealth Services LLC Raises Position

Key Points

• Kestra Private Wealth Services increased its Lockheed Martin stake by 6.6% in the third quarter, to 47,281 shares valued at about $24.1 million. Institutional investors and hedge funds collectively own 74.19% of the company.
• Lockheed Martin beat quarterly earnings expectations, reporting $7.97 per share versus estimates of $7.52, while revenue rose 11.3% year over year to $20.71 billion.
• The company raised its quarterly dividend from $3.45 to $3.60 per share, equivalent to an annualized $14.40 and a 2.4% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $647.

Kestra Private Wealth Services LLC boosted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,281 shares of the aerospace company's stock after acquiring an additional 2,919 shares during the period. Kestra Private Wealth Services LLC's holdings in Lockheed Martin were worth $24,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Trek Financial LLC raised its holdings in shares of Lockheed Martin by 1.2% in the 3rd quarter. Trek Financial LLC now owns 1,405 shares of the aerospace company's stock valued at $715,000 after purchasing an additional 16 shares in the last quarter. Cahaba Wealth Management Inc. lifted its position in shares of Lockheed Martin by 3.2% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 542 shares of the aerospace company's stock worth $276,000 after purchasing an additional 17 shares during the last quarter. Third View Private Wealth LLC lifted its position in shares of Lockheed Martin by 2.0% during the 3rd quarter. Third View Private Wealth LLC now owns 886 shares of the aerospace company's stock worth $451,000 after purchasing an additional 17 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of Lockheed Martin by 4.5% during the second quarter. Beacon Capital Management LLC now owns 442 shares of the aerospace company's stock worth $225,000 after purchasing an additional 19 shares in the last quarter. Finally, YANKCOM Partnership grew its stake in shares of Lockheed Martin by 0.7% during the third quarter. YANKCOM Partnership now owns 2,575 shares of the aerospace company's stock worth $1,311,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on LMT shares. Robert W. Baird set a $700.00 target price on Lockheed Martin in a report on Friday, July 24th. Barclays lifted their price target on Lockheed Martin from $554.00 to $560.00 and gave the stock an "equal weight" rating in a report on Friday, October 23rd. Royal Bank Of Canada upped their price objective on Lockheed Martin from $550.00 to $600.00 and gave the stock a "sector perform" rating in a research report on Friday, October 23rd. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 17th. Finally, Morgan Stanley increased their price objective on Lockheed Martin from $653.00 to $690.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $647.00.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $594.71 on Thursday. The company's fifty day moving average price is $548.02 and its 200 day moving average price is $569.72. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month 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 firm has a market capitalization of $137.38 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.36 and a beta of 0.07.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, beating analysts' consensus estimates of $7.52 by $0.45. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The firm had revenue of $20.71 billion during the quarter, compared to analysts' expectations of $20.48 billion. During the same period in the previous year, the company earned $6.95 earnings per share. Lockheed Martin's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts predict 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 given a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.4%. 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 payout ratio is presently 51.15%.

Key Lockheed Martin News

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Guggenheim initiated coverage with a Buy rating and a $735 price target, signaling meaningful potential upside. Guggenheim coverage
• Positive Sentiment: Lockheed’s PAC-3 interceptor business could benefit from a multiyear award valued at about $58.6 billion and plans to expand annual production capacity. The large backlog supports future revenue, although execution and profitable delivery remain important. InvestorPlace article on PAC-3 production
• Positive Sentiment: Lockheed was cited for strong relative strength over the past month, supported by its recent quarterly results. Zacks relative-strength report
• Negative Sentiment: Democrats’ midterm gains put control of both chambers of Congress in their hands, raising questions about the administration’s proposed defense spending. Reports cited a possible reduction in the Pentagon’s budget request, creating uncertainty for defense contractors’ future funding and contracts. Motley Fool article on election impact
• Negative Sentiment: Lockheed agreed to pay $29.5 million to settle federal allegations that it discriminated against white workers. The payment is relatively modest compared with the company’s scale, but the case could bring reputational and compliance scrutiny, including because it concerns a federal contractor. New York Post settlement report

About Lockheed Martin

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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