Traynor Capital Management Inc. increased its position in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,537 shares of the aerospace company’s stock after purchasing an additional 850 shares during the period. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $10,459,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Cahaba Wealth Management Inc. boosted its stake in Lockheed Martin by 3.2% during the third quarter. Cahaba Wealth Management Inc. now owns 542 shares of the aerospace company’s stock worth $276,000 after buying an additional 17 shares in the last quarter. Beacon Capital Management LLC increased its holdings in Lockheed Martin by 4.5% in the 2nd quarter. Beacon Capital Management LLC now owns 442 shares of the aerospace company’s stock valued at $225,000 after buying an additional 19 shares during the period. YANKCOM Partnership increased its holdings in Lockheed Martin by 0.7% in the 3rd quarter. YANKCOM Partnership now owns 2,575 shares of the aerospace company’s stock valued at $1,311,000 after buying an additional 19 shares during the period. Capital Square LLC raised its stake in shares of Lockheed Martin by 1.1% in the 3rd quarter. Capital Square LLC now owns 1,793 shares of the aerospace company’s stock valued at $913,000 after buying an additional 19 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its stake in shares of Lockheed Martin by 0.3% in the 3rd quarter. Boomfish Wealth Group LLC now owns 5,748 shares of the aerospace company’s stock valued at $2,927,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on LMT shares. Rothschild & Co Redburn began coverage on shares of Lockheed Martin in a report on Tuesday, October 6th. They set a “buy” rating and a $650.00 price objective for the company. Sanford C. Bernstein lowered their target price on shares of Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 14th. Royal Bank Of Canada increased 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. Citigroup raised their price target on shares of Lockheed Martin from $691.00 to $706.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Finally, Wells Fargo & Company set a $600.00 price objective on Lockheed Martin in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $638.05.
Get Our Latest Stock Analysis on Lockheed Martin
Lockheed Martin Stock Performance
Lockheed Martin stock opened at $637.60 on Monday. 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 stock has a fifty day moving average price of $544.17 and a two-hundred day moving average price of $568.87. Lockheed Martin Corporation has a 52-week low of $437.25 and a 52-week high of $692.00. The firm has a market capitalization of $147.29 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.35 and a beta of 0.09.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, beating the consensus estimate of $7.52 by $0.45. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. 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 company earned $6.95 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Corporation will post 30.66 EPS 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. Investors of record on Tuesday, December 1st will be given a dividend of $3.60 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.3%. Lockheed Martin’s dividend payout ratio is 51.15%.
Lockheed Martin 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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