abrdn plc Buys 2,707 Shares of Lockheed Martin Co. (NYSE:LMT)

abrdn plc grew its position in Lockheed Martin Co. (NYSE:LMT) by 14.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,036 shares of the aerospace company’s stock after purchasing an additional 2,707 shares during the quarter. abrdn plc’s holdings in Lockheed Martin were worth $12,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stokes Family Office LLC bought a new stake in Lockheed Martin during the 1st quarter valued at approximately $425,000. FORVIS Wealth Advisors LLC boosted its position in Lockheed Martin by 10.9% in the first quarter. FORVIS Wealth Advisors LLC now owns 1,113 shares of the aerospace company’s stock valued at $506,000 after buying an additional 109 shares in the last quarter. Norden Group LLC grew its stake in Lockheed Martin by 96.0% during the first quarter. Norden Group LLC now owns 1,186 shares of the aerospace company’s stock worth $540,000 after buying an additional 581 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Lockheed Martin by 18.9% during the first quarter. BNP Paribas Financial Markets now owns 175,887 shares of the aerospace company’s stock worth $80,006,000 after buying an additional 27,910 shares in the last quarter. Finally, Sippican Capital Advisors raised its stake in shares of Lockheed Martin by 2.1% in the first quarter. Sippican Capital Advisors now owns 2,614 shares of the aerospace company’s stock valued at $1,189,000 after acquiring an additional 55 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

LMT stock opened at $545.54 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market cap of $129.31 billion, a P/E ratio of 19.75, a P/E/G ratio of 4.47 and a beta of 0.47. The company’s 50-day moving average price is $579.25 and its two-hundred day moving average price is $517.98. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 EPS. On average, analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date 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 47.79%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of recent analyst reports. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Susquehanna reduced their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, UBS Group lifted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $611.00.

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.