King Luther Capital Management Corp Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

King Luther Capital Management Corp raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,652 shares of the aerospace company’s stock after buying an additional 85 shares during the quarter. King Luther Capital Management Corp’s holdings in Lockheed Martin were worth $4,473,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter worth about $27,000. Sachetta LLC lifted its stake in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. Stephens Consulting LLC increased its position in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LMT shares. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT opened at $542.22 on Friday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $128.53 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.36 and a beta of 0.49. The business has a 50-day simple moving average of $573.12 and a two-hundred day simple moving average of $526.94.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.43%. Lockheed Martin’s payout ratio is currently 47.79%.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.