Lockheed Martin Co. (NYSE:LMT) is Old West Investment Management LLC’s 2nd Largest Position

Old West Investment Management LLC increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.6% during the third quarter, according to its most recent disclosure 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 quarter. Lockheed Martin comprises 6.0% of Old West Investment Management LLC’s investment portfolio, making the stock its 2nd biggest position. 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 institutional investors and hedge funds have also recently bought and sold shares of LMT. Lantz Financial LLC raised its stake in shares of Lockheed Martin by 2.6% in the 2nd quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock valued at $2,281,000 after acquiring an additional 123 shares during the period. V Square Quantitative Management LLC boosted its position in Lockheed Martin by 119.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,016 shares of the aerospace company’s stock valued at $475,000 after buying an additional 554 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Lockheed Martin by 7.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,076 shares of the aerospace company’s stock valued at $14,983,000 after purchasing an additional 2,282 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Lockheed Martin by 4.1% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,735 shares of the aerospace company’s stock valued at $1,277,000 after purchasing an additional 108 shares in the last quarter. Finally, Red Door Wealth Management LLC raised its holdings in shares of Lockheed Martin by 8.4% in the 2nd quarter. Red Door Wealth Management LLC now owns 9,336 shares of the aerospace company’s stock valued at $4,361,000 after purchasing an additional 721 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LMT. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Up 0.6 %

Shares of NYSE:LMT opened at $512.85 on Wednesday. The company has a market cap of $121.57 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.19 and a beta of 0.47. The firm’s 50-day simple moving average is $561.02 and its 200-day simple moving average is $531.86. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

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

Lockheed Martin Increases Dividend

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

Lockheed Martin Company Profile

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.