Rakuten Investment Management Inc. Acquires 3,355 Shares of Lockheed Martin Corporation $LMT

Rakuten Investment Management Inc. boosted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 10.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 36,801 shares of the aerospace company’s stock after buying an additional 3,355 shares during the period. Rakuten Investment Management Inc.’s holdings in Lockheed Martin were worth $18,850,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LMT. IAG Wealth Partners LLC grew its stake 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 worth $30,000 after purchasing an additional 48 shares in the last quarter. Burnham & Co LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth approximately $25,000. Field & Main Bank purchased a new stake in shares of Lockheed Martin during the second quarter worth approximately $26,000. Kelleher Financial Advisors purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $29,000. Finally, Highland Investment Advisors LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LMT shares. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $620.00 to $665.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. Citigroup lifted 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. UBS Group raised their price objective on Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Royal Bank Of Canada upped their target price on Lockheed Martin from $550.00 to $600.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Finally, TD Cowen decreased their price objective on Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a report on Friday, October 9th. One 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 company’s stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.

More Lockheed Martin News

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

• Positive Sentiment: Guggenheim initiated coverage with a Buy rating and a $735 price target, signaling meaningful potential upside. Guggenheim coverage
• Positive Sentiment: Lockheed’s PAC-3 interceptor business could benefit from a multiyear award valued at about $58.6 billion and plans to expand annual production capacity. The large backlog supports future revenue, although execution and profitable delivery remain important. InvestorPlace article on PAC-3 production
• Positive Sentiment: Lockheed was cited for strong relative strength over the past month, supported by its recent quarterly results. Zacks relative-strength report
• Negative Sentiment: Democrats’ midterm gains put control of both chambers of Congress in their hands, raising questions about the administration’s proposed defense spending. Reports cited a possible reduction in the Pentagon’s budget request, creating uncertainty for defense contractors’ future funding and contracts. Motley Fool article on election impact
• Negative Sentiment: Lockheed agreed to pay $29.5 million to settle federal allegations that it discriminated against white workers. The payment is relatively modest compared with the company’s scale, but the case could bring reputational and compliance scrutiny, including because it concerns a federal contractor. New York Post settlement report

Lockheed Martin Stock Down 6.9%

LMT opened at $594.71 on Thursday. 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 business has a 50 day simple moving average of $548.02 and a 200-day simple moving average of $569.72. The stock has a market capitalization of $137.38 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.36 and a beta of 0.07. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, topping 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 analyst estimates of $20.48 billion. During the same period in the previous year, the firm earned $6.95 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be given a $3.60 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is currently 51.15%.

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.