Traynor Capital Management Inc. Acquires 850 Shares of Lockheed Martin Corporation $LMT

Traynor Capital Management Inc. raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,537 shares of the aerospace company’s stock after acquiring an additional 850 shares during the quarter. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $10,459,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LMT. BlackRock Inc. acquired a new position in Lockheed Martin in the 2nd quarter valued at approximately $9,617,574,000. Corient Private Wealth LP purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $101,960,000. Bank of New York Mellon Corp acquired a new stake in shares of Lockheed Martin during the 2nd quarter valued at $645,258,000. Legal & General Group Plc acquired a new position in shares of Lockheed Martin in the second quarter worth $497,469,000. Finally, Papamarkou Wellner Asset Management inc. increased its stake in shares of Lockheed Martin by 20,302.9% in the second quarter. Papamarkou Wellner Asset Management inc. now owns 627,798 shares of the aerospace company’s stock worth $319,838,000 after acquiring an additional 624,721 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.1%

Shares of Lockheed Martin stock opened at $637.60 on Monday. Lockheed Martin Corporation has a 12-month low of $437.25 and a 12-month high of $692.00. The stock has a 50 day moving average price of $544.17 and a two-hundred day moving average price of $568.87. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $147.29 billion, a P/E ratio of 22.65, a PEG ratio of 1.35 and a beta of 0.09.

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

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be given a $3.60 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $14.40 annualized dividend and a yield of 2.3%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s dividend payout ratio (DPR) is 51.15%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LMT shares. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Citigroup boosted their target price on Lockheed Martin from $691.00 to $706.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Vertical Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 target price on the stock in a research report on Wednesday, October 14th. Royal Bank Of Canada raised their price target on Lockheed Martin from $550.00 to $600.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Finally, Rothschild & Co Redburn assumed coverage on Lockheed Martin in a report on Tuesday, October 6th. They set a “buy” rating and a $650.00 price target for the company. One research 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.05.

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.