Lockheed Martin Co. (NYSE:LMT) Stock Position Lifted by Canal Capital Management LLC

Canal Capital Management LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,425 shares of the aerospace company’s stock after acquiring an additional 527 shares during the quarter. Lockheed Martin makes up approximately 1.4% of Canal Capital Management LLC’s holdings, making the stock its 17th largest position. Canal Capital Management LLC’s holdings in Lockheed Martin were worth $9,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC raised its holdings in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. Quad Cities Investment Group LLC increased its holdings in shares of Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares during the last quarter. HTLF Bank raised its stake in shares of 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 acquiring an additional 20 shares in the last quarter. tru Independence LLC lifted its holdings in Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the last quarter. Finally, Sachetta LLC boosted its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $564.95 on Friday. The business’s 50 day moving average is $579.95 and its 200-day moving average is $513.50. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $135.55 billion, a PE ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted 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 firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the company earned $6.77 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 26.68 earnings per share 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 paid a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. Melius raised 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. Finally, Wells Fargo & Company increased their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.71.

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.