AXQ Capital LP Purchases 1,296 Shares of Lockheed Martin Corporation $LMT

AXQ Capital LP increased its position in Lockheed Martin Corporation (NYSE:LMT) by 102.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,557 shares of the aerospace company’s stock after purchasing an additional 1,296 shares during the quarter. Lockheed Martin makes up 0.5% of AXQ Capital LP’s portfolio, making the stock its 29th biggest position. AXQ Capital LP’s holdings in Lockheed Martin were worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after buying an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in Lockheed Martin in the third quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth $29,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $35,000. Finally, MTM Investment Management LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $36,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup raised their price target on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Truist Financial raised their target price on Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a report on Friday, January 30th. DZ Bank cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target for the company. in a research note on Tuesday, February 3rd. Finally, Susquehanna reiterated a “positive” rating and issued a $660.00 price target on shares of Lockheed Martin in a research report on Thursday, January 15th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $659.80 on Tuesday. The firm has a market cap of $151.81 billion, a PE ratio of 30.70, a PEG ratio of 1.19 and a beta of 0.23. 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 1-year low of $410.11 and a 1-year high of $669.75. The company has a fifty day moving average price of $567.39 and a 200 day moving average price of $504.43.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. 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 business earned $7.67 EPS. Research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

About Lockheed Martin

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.