Sequoia Financial Advisors LLC Increases Holdings in Lockheed Martin Co. (NYSE:LMT)

Sequoia Financial Advisors LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 17.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,288 shares of the aerospace company’s stock after buying an additional 1,814 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lockheed Martin were worth $7,183,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Stokes Family Office LLC purchased a new stake in Lockheed Martin during the first quarter valued at approximately $425,000. Gateway Investment Advisers LLC grew its stake in shares of Lockheed Martin by 4.9% during the first quarter. Gateway Investment Advisers LLC now owns 5,446 shares of the aerospace company’s stock valued at $2,477,000 after buying an additional 256 shares during the last quarter. Annex Advisory Services LLC bought a new position in shares of Lockheed Martin during the first quarter valued at approximately $220,000. Columbus Macro LLC grew its stake in shares of Lockheed Martin by 18.8% during the first quarter. Columbus Macro LLC now owns 2,023 shares of the aerospace company’s stock valued at $922,000 after buying an additional 320 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Lockheed Martin during the first quarter valued at approximately $38,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 6.2 %

Lockheed Martin stock opened at $576.72 on Wednesday. The business has a fifty day moving average of $579.79 and a two-hundred day moving average of $513.10. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market cap of $138.38 billion, a P/E ratio of 21.10, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the business earned $6.73 earnings per share. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LMT. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays upped their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Susquehanna increased their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $599.93.

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.