Canal Capital Management LLC Has $9.02 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Canal Capital Management LLC lifted its position in Lockheed Martin Co. (NYSE:LMT) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,425 shares of the aerospace company’s stock after purchasing an additional 527 shares during the quarter. Lockheed Martin accounts for approximately 1.4% of Canal Capital Management LLC’s holdings, making the stock its 17th biggest holding. Canal Capital Management LLC’s holdings in Lockheed Martin were worth $9,017,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in shares of Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC lifted its position in 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 worth $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Legal & General Group Plc grew its holdings in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after acquiring an additional 119,052 shares in the last quarter. Finally, Wulff Hansen & CO. raised its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.1 %

Lockheed Martin stock opened at $564.95 on Friday. The firm has a market capitalization of $135.55 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47. The company’s 50 day simple moving average is $579.95 and its 200 day simple moving average is $513.50. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the firm posted $6.77 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 48.30%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LMT. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $606.71.

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.