Lockheed Martin Corporation $LMT Stock Holdings Lessened by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,949 shares of the aerospace company’s stock after selling 3,270 shares during the period. Fifth Third Bancorp’s holdings in Lockheed Martin were worth $65,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Burnham & Co LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $25,000. Field & Main Bank bought a new position in shares of Lockheed Martin during the second quarter valued at approximately $26,000. Kelleher Financial Advisors purchased a new stake in Lockheed Martin in the second quarter worth $29,000. Highland Investment Advisors LLC purchased a new stake in Lockheed Martin in the second quarter worth $29,000. Finally, Lynch Investment Planning LLC purchased a new stake in Lockheed Martin in the third quarter worth $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMT. Bank of America reissued a “neutral” rating and set a $620.00 price objective on shares of Lockheed Martin in a research report on Monday, October 26th. 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 target price for the company. Guggenheim assumed coverage on shares of Lockheed Martin in a research note on Wednesday, November 4th. They set a “buy” rating and a $735.00 target price on the stock. Barclays boosted their price target on shares of Lockheed Martin from $554.00 to $560.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Finally, UBS Group increased their price target on shares of Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $647.00.

Lockheed Martin Stock Down 1.1%

Shares of NYSE:LMT opened at $603.53 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The stock has a fifty day simple moving average of $552.34 and a two-hundred day simple moving average of $569.92. Lockheed Martin Corporation has a 12-month low of $437.25 and a 12-month high of $692.00. The stock has a market capitalization of $139.42 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.29 and a beta of 0.07.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The firm had revenue of $20.71 billion for the quarter, compared to analysts’ expectations of $20.48 billion. During the same period in the prior year, the firm posted $6.95 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts anticipate that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 1st will be paid a $3.60 dividend. This represents a $14.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.02%.

More Lockheed Martin News

These are some of the LMT news items that stood out recently:

• Positive Sentiment: An investment commentary argues that LMT remains attractive despite budget debate, citing a reported record $292 billion backlog, ongoing production ramps, and an F-35 framework that may improve planning and investment visibility. Article: Lockheed Martin Stock Looks Attractive Despite the Budget Debate
• Neutral Sentiment: New market reports identify Lockheed Martin as a participant in UAV satellite communications and AI-enabled counter-drone systems, highlighting potential growth markets but offering no LMT-specific award or revenue update. Article: Global UAV Satellite Communication Market Report
• Neutral Sentiment: A report on Iranian threats and the Treasury Secretary’s move to a military base adds geopolitical context that could reinforce defense concerns, but it does not describe a direct development for Lockheed Martin. Article: The Treasury Secretary Is Now Living on a Military Base After Iranian Threats

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.