Probity Advisors Inc. Has $1.74 Million Stock Position in Lockheed Martin Corporation $LMT

Probity Advisors Inc. grew its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,759 shares of the aerospace company’s stock after acquiring an additional 140 shares during the quarter. Probity Advisors Inc.’s holdings in Lockheed Martin were worth $1,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LMT. Brighton Jones LLC boosted its position in Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after acquiring an additional 191 shares during the last quarter. Advisor Resource Council acquired a new position in Lockheed Martin during the 1st quarter worth approximately $570,000. Childress Capital Advisors LLC boosted its holdings in shares of Lockheed Martin by 5.7% in the 1st quarter. Childress Capital Advisors LLC now owns 794 shares of the aerospace company’s stock valued at $355,000 after buying an additional 43 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings in shares of Lockheed Martin by 20.0% in the 1st quarter. Ellis Investment Partners LLC now owns 641 shares of the aerospace company’s stock valued at $286,000 after buying an additional 107 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Lockheed Martin by 3.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 73,661 shares of the aerospace company’s stock valued at $32,905,000 after buying an additional 2,588 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 2.0%

Shares of Lockheed Martin stock opened at $505.20 on Tuesday. The business has a fifty day simple moving average of $473.51 and a two-hundred day simple moving average of $465.36. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a market capitalization of $117.94 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.74 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the firm posted $7.11 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is 74.32%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LMT shares. Morgan Stanley increased their price objective on Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. The Goldman Sachs Group increased their price objective on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a report on Friday, October 10th. Truist Financial increased their price objective on Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Sanford C. Bernstein increased their price objective on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a report on Monday. Finally, Cowen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $515.35.

Lockheed Martin Profile

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.