Principal Financial Group Inc. Has $158.35 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Principal Financial Group Inc. increased its stake in Lockheed Martin Co. (NYSE:LMT) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,879 shares of the aerospace company’s stock after acquiring an additional 10,358 shares during the quarter. Principal Financial Group Inc.’s holdings in Lockheed Martin were worth $158,345,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after buying an additional 83,997 shares during the last quarter. FMR LLC lifted its holdings in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP boosted its position in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $479.66 on Friday. The firm has a 50 day moving average of $543.35 and a 200-day moving average of $532.64. The firm has a market capitalization of $113.70 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business earned $6.77 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Susquehanna decreased their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $612.29.

About Lockheed Martin

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.