Lockheed Martin Corporation $LMT Stock Position Boosted by Sanders Capital LLC

Key Points

• Sanders Capital increased its Lockheed Martin position by 44.8% in the third quarter, adding 937,105 shares to own about 3.03 million shares, worth roughly $1.54 billion.
• Lockheed Martin beat quarterly earnings and revenue estimates, reporting EPS of $7.97 and revenue of $20.71 billion; revenue rose 11.3% year over year. Analysts’ consensus rating was “Moderate Buy,” with a $647 average price target.
• The company raised its quarterly dividend from $3.45 to $3.60 per share, equivalent to $14.40 annually and a 2.5% yield.

Sanders Capital LLC raised its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,030,638 shares of the aerospace company's stock after acquiring an additional 937,105 shares during the quarter. Lockheed Martin makes up 1.5% of Sanders Capital LLC's holdings, making the stock its 22nd largest holding. Sanders Capital LLC owned about 1.31% of Lockheed Martin worth $1,543,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IAG Wealth Partners LLC lifted its holdings in Lockheed Martin by 4,800.0% during the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company's stock valued at $30,000 after buying an additional 48 shares in the last quarter. Burnham & Co LLC bought a new position in Lockheed Martin in the 2nd quarter worth about $25,000. Field & Main Bank bought a new position in Lockheed Martin in the 2nd quarter worth about $26,000. Kelleher Financial Advisors bought a new position in Lockheed Martin in the 2nd quarter worth about $29,000. Finally, Highland Investment Advisors LLC purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LMT shares. Barclays boosted their price target on Lockheed Martin from $554.00 to $560.00 and gave the company an "equal weight" rating in a report on Friday, October 23rd. Bank of America restated a "neutral" rating and set a $620.00 price objective on shares of Lockheed Martin in a report on Monday, October 26th. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 17th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $620.00 to $665.00 and gave the company a "neutral" rating in a research report on Monday, October 26th. Finally, Vertical Research upgraded 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. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $647.00.

Lockheed Martin Stock Down 1.7%

NYSE LMT traded down $9.73 during trading on Friday, reaching $566.43. 1,387,287 shares of the company's stock traded hands, compared to its average volume of 1,562,060. 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 cap of $130.85 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.07. The company's 50 day simple moving average is $548.25 and its two-hundred day simple moving average is $569.65.

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, topping the consensus estimate of $7.52 by $0.45. The firm had revenue of $20.71 billion during 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 revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.95 EPS. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 30.66 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. This is a boost from Lockheed Martin's previous quarterly dividend of $3.45. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 annualized dividend and a yield of 2.5%. Lockheed Martin's payout ratio is 49.02%.

More Lockheed Martin News

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 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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