Lake Street Advisors Group LLC Has $2.14 Million Position in Lockheed Martin Co. (NYSE:LMT)

by · The Markets Daily

Lake Street Advisors Group LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT – Free Report) by 45.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,666 shares of the aerospace company’s stock after selling 3,088 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Lockheed Martin were worth $2,143,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC grew its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin during the first quarter worth about $30,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LMT shares. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $606.71.

Get Our Latest Stock Report on LMT

Lockheed Martin Price Performance

Shares of NYSE:LMT traded up $0.09 during trading on Friday, reaching $564.30. The stock had a trading volume of 168,284 shares, compared to its average volume of 1,050,621. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The business’s 50-day moving average price is $579.95 and its 200 day moving average price is $513.50. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market capitalization of $135.40 billion, a PE ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

About Lockheed Martin

(Free Report)

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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