Sanders Capital LLC Purchases 937,105 Shares of Lockheed Martin Corporation $LMT

Sanders Capital LLC boosted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 44.8% in the third quarter, HoldingsChannel reports. The fund owned 3,030,638 shares of the aerospace company’s stock after purchasing an additional 937,105 shares during the quarter. Lockheed Martin makes up 1.5% of Sanders Capital LLC’s portfolio, making the stock its 22nd largest position. Sanders Capital LLC’s holdings in Lockheed Martin were worth $1,543,352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Burnham & Co LLC purchased a new position in Lockheed Martin in the second quarter worth $25,000. Field & Main Bank acquired a new position in shares of Lockheed Martin during the second quarter worth $26,000. Kelleher Financial Advisors purchased a new stake in shares of Lockheed Martin during the 2nd quarter valued at $29,000. Highland Investment Advisors LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter valued at $29,000. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Lockheed Martin by 4,800.0% during the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 48 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $9.73 on Friday, hitting $566.43. 1,387,287 shares of the company were exchanged, compared to its average volume of 1,562,060. The firm has a market capitalization of $130.85 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.07. 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 Corporation has a 1-year low of $437.25 and a 1-year high of $692.00. The stock’s 50 day moving average price is $548.25 and its 200 day moving average price is $569.65.

Lockheed Martin (NYSE:LMT) last released its earnings results 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 firm had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.95 EPS. Sell-side analysts predict that Lockheed Martin Corporation will post 30.66 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be issued a $3.60 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, December 1st. Lockheed Martin’s dividend payout ratio is currently 49.02%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMT. Weiss Ratings raised Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. UBS Group increased their price target on Lockheed Martin from $653.00 to $692.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Citigroup raised their price target on Lockheed Martin from $691.00 to $706.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Finally, Wells Fargo & Company boosted their price target on Lockheed Martin from $600.00 to $700.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $647.00.

Key Stories Impacting Lockheed Martin

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

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.