Lockheed Martin Corporation $LMT Stock Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its stake in Lockheed Martin Corporation (NYSE:LMT) by 27.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,551 shares of the aerospace company’s stock after purchasing an additional 18,385 shares during the quarter. Kestra Advisory Services LLC’s holdings in Lockheed Martin were worth $43,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LMT. REAP Financial Group LLC raised its position in Lockheed Martin by 10.1% during the 3rd quarter. REAP Financial Group LLC now owns 228 shares of the aerospace company’s stock worth $116,000 after buying an additional 21 shares during the last quarter. Quadcap Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 33.0% in the third quarter. Quadcap Wealth Management LLC now owns 6,000 shares of the aerospace company’s stock valued at $3,055,000 after acquiring an additional 1,490 shares in the last quarter. StrongBox Wealth LLC boosted its holdings in shares of Lockheed Martin by 71.8% in the third quarter. StrongBox Wealth LLC now owns 2,513 shares of the aerospace company’s stock valued at $1,280,000 after acquiring an additional 1,050 shares in the last quarter. Platform Technology Partners increased its stake in shares of Lockheed Martin by 2.3% during the third quarter. Platform Technology Partners now owns 4,791 shares of the aerospace company’s stock worth $2,440,000 after acquiring an additional 108 shares during the period. Finally, Collaborative Fund Advisors LLC acquired a new position in shares of Lockheed Martin during the third quarter worth about $512,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin News Roundup

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

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

Lockheed Martin Price Performance

Shares of NYSE LMT traded down $9.73 during trading on Friday, hitting $566.43. 1,387,287 shares of the company were exchanged, compared to its average volume of 1,562,060. The company has a market cap of $130.85 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.36 and a beta of 0.07. Lockheed Martin Corporation has a 1 year low of $437.25 and a 1 year high of $692.00. The firm’s fifty day moving average price is $548.25 and its 200 day moving average price is $569.65. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10.

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

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. The ex-dividend date is Tuesday, December 1st. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a yield of 2.5%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.02%.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $620.00 to $665.00 and gave the company a “neutral” rating in a report on Monday, October 26th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $600.00 to $700.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Robert W. Baird set a $700.00 target price on Lockheed Martin in a research report on Friday, July 24th. Finally, Sanford C. Bernstein cut their target price on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.