Lockheed Martin Co. (NYSE:LMT) Shares Bought by Huntington National Bank

Huntington National Bank lifted its position in Lockheed Martin Co. (NYSE:LMT) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 144,750 shares of the aerospace company’s stock after acquiring an additional 5,279 shares during the period. Huntington National Bank’s holdings in Lockheed Martin were worth $84,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMT. Russell Investments Group Ltd. boosted its position in Lockheed Martin by 10.1% during the 1st quarter. Russell Investments Group Ltd. now owns 54,030 shares of the aerospace company’s stock worth $24,577,000 after acquiring an additional 4,976 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the first quarter worth $30,000. Kingsview Wealth Management LLC raised its position in shares of Lockheed Martin by 2.8% during the first quarter. Kingsview Wealth Management LLC now owns 17,369 shares of the aerospace company’s stock worth $7,901,000 after purchasing an additional 475 shares during the period. Lord Abbett & CO. LLC raised its position in Lockheed Martin by 1.5% during the first quarter. Lord Abbett & CO. LLC now owns 112,070 shares of the aerospace company’s stock valued at $50,977,000 after buying an additional 1,628 shares during the period. Finally, Blair William & Co. IL increased its position in Lockheed Martin by 8.8% in the 1st quarter. Blair William & Co. IL now owns 31,819 shares of the aerospace company’s stock worth $14,474,000 after purchasing an additional 2,563 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $557.73 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $132.20 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 4.63 and a beta of 0.49. The stock’s 50 day moving average is $578.09 and its 200-day moving average is $523.56. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.37%. Lockheed Martin’s dividend payout ratio is presently 47.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LMT. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays raised their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin 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.