VestGen Advisors LLC Buys 2,528 Shares of Lockheed Martin Corporation $LMT

Key Points

• VestGen Advisors increased its Lockheed Martin stake by 37.1% in the third quarter, purchasing 2,528 shares and bringing its total holdings to 9,338 shares valued at approximately $4.76 million. Institutional investors collectively own 74.19% of the company.
• Lockheed Martin exceeded quarterly earnings expectations, reporting $7.97 in EPS and $20.71 billion in revenue, with revenue up 11.3% year over year. The company also raised its quarterly dividend to $3.60 per share, equating to a 2.3% yield.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $638.05, while recent optimism has been supported by the company’s $292 billion backlog, a long-term F-35 framework, and new hypersonic missile contracts.

VestGen Advisors LLC lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 37.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,338 shares of the aerospace company's stock after purchasing an additional 2,528 shares during the period. VestGen Advisors LLC's holdings in Lockheed Martin were worth $4,756,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Stockman Wealth Management Inc. raised its stake in Lockheed Martin by 3.2% in the 3rd quarter. Stockman Wealth Management Inc. now owns 23,951 shares of the aerospace company's stock valued at $12,197,000 after purchasing an additional 740 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in Lockheed Martin in the 3rd quarter valued at $130,000. Conning Inc. boosted its stake in Lockheed Martin by 0.3% during the 3rd quarter. Conning Inc. now owns 71,593 shares of the aerospace company's stock worth $36,459,000 after purchasing an additional 213 shares during the last quarter. Victory Financial Group LLC boosted its stake in Lockheed Martin by 27.0% during the 3rd quarter. Victory Financial Group LLC now owns 1,332 shares of the aerospace company's stock worth $678,000 after purchasing an additional 283 shares during the last quarter. Finally, Great Lakes Retirement Inc. grew its holdings in shares of Lockheed Martin by 1.6% during the third quarter. Great Lakes Retirement Inc. now owns 23,499 shares of the aerospace company's stock worth $11,967,000 after buying an additional 366 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Trading Up 1.2%

Shares of Lockheed Martin stock opened at $630.42 on Thursday. The firm has a market capitalization of $145.63 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.29 and a beta of 0.09. 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 quick ratio of 1.10 and a current ratio of 1.26. The stock has a 50 day moving average of $541.77 and a 200 day moving average of $567.94.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, beating analysts' consensus estimates of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The company had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. During the same quarter in the previous year, the business earned $6.95 earnings per share. The company's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Corporation will post 30.55 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors 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 2.3%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.45. Lockheed Martin's dividend payout ratio is 49.02%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. Royal Bank Of Canada boosted their price target on shares of Lockheed Martin from $550.00 to $600.00 and gave the stock a "sector perform" rating in a research report on Friday, October 23rd. Vertical Research raised shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $600.00 price target on the stock in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Lockheed Martin from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $620.00 to $665.00 and gave the company a "neutral" rating in a report on Monday. Finally, Citigroup raised their price objective on shares of Lockheed Martin from $691.00 to $706.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of "Moderate Buy" and an average target price of $638.05.

Key Headlines Impacting Lockheed Martin

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

• Positive Sentiment: Morgan Stanley upgraded LMT to Overweight and raised its price target to $835, arguing that a 10-year F-35 framework with the Pentagon removes significant program risk. The firm also cited Lockheed’s record $292 billion backlog. Lockheed Martin's F-35 Deal Could Change How Wall Street Values the Stock
• Positive Sentiment: Lockheed received a $694 million U.S. Air Force contract to produce the Air-Launched Rapid Response Weapon hypersonic missile, adding near-term revenue potential and reinforcing its position in advanced weapons. Lockheed Martin to Add Air-Launched Hypersonic Missile to the American Arsenal of Freedom
• Positive Sentiment: A separate Army test demonstrated Lockheed’s ability to redirect an in-flight GMLRS rocket, supporting the company’s role in next-generation integrated fires and missile-defense systems. Lockheed Martin Advances Joint Fires Capability
• Positive Sentiment: Zacks upgraded LMT to Rank #2, or Buy, reflecting improving expectations for earnings. Lockheed Rating Upgrade to Buy

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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