Lockheed Martin Co. (NYSE:LMT) Shares Bought by Old West Investment Management LLC

Old West Investment Management LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,633 shares of the aerospace company’s stock after acquiring an additional 1,643 shares during the period. Lockheed Martin comprises 6.0% of Old West Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Old West Investment Management LLC’s holdings in Lockheed Martin were worth $15,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Lantz Financial LLC raised its position in Lockheed Martin by 2.6% during the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock worth $2,281,000 after acquiring an additional 123 shares during the last quarter. V Square Quantitative Management LLC raised its position in Lockheed Martin by 119.9% during the second quarter. V Square Quantitative Management LLC now owns 1,016 shares of the aerospace company’s stock worth $475,000 after acquiring an additional 554 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Lockheed Martin by 7.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,076 shares of the aerospace company’s stock worth $14,983,000 after acquiring an additional 2,282 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Lockheed Martin by 4.1% during the second quarter. Cornerstone Wealth Management LLC now owns 2,735 shares of the aerospace company’s stock worth $1,277,000 after acquiring an additional 108 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its position in Lockheed Martin by 8.4% during the second quarter. Red Door Wealth Management LLC now owns 9,336 shares of the aerospace company’s stock worth $4,361,000 after acquiring an additional 721 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $512.85 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a 50 day moving average price of $561.02 and a 200 day moving average price of $531.86. The firm has a market capitalization of $121.57 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 4.19 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 47.79%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada cut their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

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.