Lockheed Martin Corporation $LMT Stock Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 27.4% during the third quarter, Holdings Channel reports. The firm owned 85,551 shares of the aerospace company’s stock after buying an additional 18,385 shares during the quarter. Kestra Advisory Services LLC’s holdings in Lockheed Martin were worth $43,567,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LMT. Norris Financial Group LLC acquired a new stake in Lockheed Martin during the 1st quarter valued at $2,321,000. CX Institutional raised its holdings in shares of Lockheed Martin by 527.4% in the third quarter. CX Institutional now owns 18,415 shares of the aerospace company’s stock worth $9,378,000 after acquiring an additional 15,480 shares during the last quarter. Talon Private Wealth LLC acquired a new position in shares of Lockheed Martin in the first quarter worth $3,743,000. Meeder Asset Management Inc. purchased a new stake in Lockheed Martin during the 2nd quarter worth about $11,036,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at about $4,796,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Key Lockheed Martin News

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

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

Analyst Ratings Changes

LMT has been the topic of a number of recent research reports. Vertical Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 target price on the stock in a report on Wednesday, October 14th. TD Cowen lowered their price target on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a report on Friday, October 9th. Royal Bank Of Canada boosted their price objective on shares of Lockheed Martin from $550.00 to $600.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Rothschild & Co Redburn assumed coverage on shares of Lockheed Martin in a research report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 price objective for the company. Finally, Robert W. Baird set a $700.00 price target on Lockheed Martin in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.

Lockheed Martin Trading Down 1.7%

Shares of LMT traded down $9.73 during mid-day trading on Friday, reaching $566.43. The company had a trading volume of 1,387,287 shares, compared to its average volume of 1,562,060. The stock has a market cap of $130.85 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.07. The firm has a fifty day simple moving average of $548.25 and a 200-day simple moving average of $569.65. 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 current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.52 by $0.45. The company had revenue of $20.71 billion during the quarter, compared to analysts’ expectations of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.95 EPS. On average, sell-side 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 issued a $3.60 dividend. The ex-dividend date is Tuesday, December 1st. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 dividend on an annualized basis and a yield of 2.5%. Lockheed Martin’s payout ratio is 49.02%.

Lockheed Martin Company 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.