First Trust Direct Indexing L.P. Boosts Holdings in Lockheed Martin Co. (NYSE:LMT)

First Trust Direct Indexing L.P. grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,491 shares of the aerospace company’s stock after buying an additional 424 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Lockheed Martin were worth $3,794,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in LMT. CVA Family Office LLC boosted its position in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares during the period. AllGen Financial Advisors Inc. boosted its holdings in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares during the period. Salomon & Ludwin LLC grew its position in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 18 shares during the last quarter. Quad Cities Investment Group LLC increased its holdings in shares of Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during the period. Finally, HTLF Bank lifted its position in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LMT. 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. Barclays boosted their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group increased their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

Shares of LMT traded down $0.69 during trading hours on Wednesday, hitting $546.11. 257,339 shares of the company were exchanged, compared to its average volume of 1,052,216. The firm has a fifty day simple moving average of $579.81 and a 200-day simple moving average of $516.93. The company has a market capitalization of $131.03 billion, a PE ratio of 19.93, a PEG ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued 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 return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the business posted $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 48.30%.

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.