Cassaday & Co Wealth Management LLC Raises Stake in Lockheed Martin Corporation $LMT

Cassaday & Co Wealth Management LLC grew its holdings in Lockheed Martin Corporation (NYSE:LMT) by 34.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,096 shares of the aerospace company’s stock after acquiring an additional 1,575 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Lockheed Martin were worth $3,043,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Lockheed Martin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after acquiring an additional 214,565 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lockheed Martin by 0.4% in the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after purchasing an additional 19,459 shares during the period. Legal & General Group Plc raised its stake in shares of Lockheed Martin by 0.6% during the second quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock worth $444,387,000 after purchasing an additional 6,073 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Lockheed Martin by 6.9% during the second quarter. AQR Capital Management LLC now owns 863,839 shares of the aerospace company’s stock worth $400,079,000 after purchasing an additional 55,607 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Lockheed Martin by 16.6% during the second quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock worth $347,381,000 after purchasing an additional 108,553 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Lockheed Martin from $615.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lockheed Martin from $492.00 to $611.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Truist Financial lifted their price objective on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a report on Friday, January 30th. Citigroup boosted their target price on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings raised Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Six 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, the company presently has a consensus rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $652.41 on Tuesday. The firm has a market capitalization of $150.11 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 1.18 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The business’s 50 day simple moving average is $549.18 and its 200-day simple moving average is $496.37. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $656.34.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.53). The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.67 earnings per share. As a group, equities analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is presently 64.22%.

Lockheed Martin Company 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.