Smartleaf Asset Management LLC Acquires 997 Shares of Lockheed Martin Corporation $LMT

Smartleaf Asset Management LLC increased its stake in Lockheed Martin Corporation (NYSE:LMT) by 65.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,517 shares of the aerospace company’s stock after purchasing an additional 997 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Lockheed Martin were worth $1,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LMT. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in Lockheed Martin during the third quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lockheed Martin in the second quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth $29,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $492.00 to $611.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Citigroup boosted their price target on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $638.19 on Tuesday. The firm has a market cap of $146.83 billion, a PE ratio of 29.70, a PEG ratio of 1.12 and a beta of 0.23. The stock has a 50 day moving average of $530.22 and a 200 day moving average of $488.63. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $646.59.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.67 EPS. On average, research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be paid a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a yield of 2.2%. Lockheed Martin’s dividend payout ratio is presently 64.22%.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.