Lockheed Martin Corporation $LMT Stock: Rakuten Investment Management Inc. Grows Stake

Rakuten Investment Management Inc. increased its position in Lockheed Martin Corporation (NYSE:LMT) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,801 shares of the aerospace company’s stock after purchasing an additional 3,355 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Lockheed Martin were worth $18,850,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Lockheed Martin by 1.3% in the 2nd quarter. State Street Corp now owns 32,975,170 shares of the aerospace company’s stock valued at $16,799,530,000 after acquiring an additional 419,582 shares during the period. BlackRock Inc. purchased a new stake in Lockheed Martin during the second quarter valued at approximately $9,617,574,000. Corient Private Wealth LP purchased a new position in Lockheed Martin in the second quarter worth $101,960,000. Bank of New York Mellon Corp acquired a new position in Lockheed Martin during the 2nd quarter valued at about $645,258,000. Finally, Legal & General Group Plc acquired a new position in shares of Lockheed Martin during the second quarter valued at about $497,469,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 6.9%

Shares of NYSE:LMT opened at $594.71 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. The business has a fifty day moving average of $548.02 and a two-hundred day moving average of $569.72. The stock has a market cap of $137.38 billion, a P/E ratio of 21.13, a PEG ratio of 1.36 and a beta of 0.07. Lockheed Martin Corporation has a 52-week low of $437.25 and a 52-week high of $692.00.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. The company had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. Lockheed Martin’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.95 earnings per share. On average, research analysts expect that Lockheed Martin Corporation will post 30.66 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a $3.60 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 annualized dividend and a dividend yield of 2.4%. Lockheed Martin’s dividend payout ratio is currently 51.15%.

Lockheed Martin News Summary

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Guggenheim initiated coverage with a Buy rating and a $735 price target, signaling meaningful potential upside. Guggenheim coverage
• Positive Sentiment: Lockheed’s PAC-3 interceptor business could benefit from a multiyear award valued at about $58.6 billion and plans to expand annual production capacity. The large backlog supports future revenue, although execution and profitable delivery remain important. InvestorPlace article on PAC-3 production
• Positive Sentiment: Lockheed was cited for strong relative strength over the past month, supported by its recent quarterly results. Zacks relative-strength report
• Negative Sentiment: Democrats’ midterm gains put control of both chambers of Congress in their hands, raising questions about the administration’s proposed defense spending. Reports cited a possible reduction in the Pentagon’s budget request, creating uncertainty for defense contractors’ future funding and contracts. Motley Fool article on election impact
• Negative Sentiment: Lockheed agreed to pay $29.5 million to settle federal allegations that it discriminated against white workers. The payment is relatively modest compared with the company’s scale, but the case could bring reputational and compliance scrutiny, including because it concerns a federal contractor. New York Post settlement report

Analyst Upgrades and Downgrades

LMT has been the topic of a number of analyst reports. Barclays raised their price objective on shares of Lockheed Martin from $554.00 to $560.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Sanford C. Bernstein reduced their price objective on shares of Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Vertical Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research note on Wednesday, October 14th. Finally, Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.00.

Lockheed Martin Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.