Northwest Bancshares Inc. Has $8.20 Million Position in Lockheed Martin Co. (NYSE:LMT)

Northwest Bancshares Inc. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 16.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,024 shares of the aerospace company’s stock after selling 2,807 shares during the quarter. Lockheed Martin comprises approximately 1.4% of Northwest Bancshares Inc.’s holdings, making the stock its 8th largest holding. Northwest Bancshares Inc.’s holdings in Lockheed Martin were worth $8,198,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LMT. GAMMA Investing LLC increased its position in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the period. Old West Investment Management LLC increased its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the period. Buck Wealth Strategies LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $6,611,000. Empower Advisory Group LLC raised its stake in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after buying an additional 1,843 shares in the last quarter. Finally, Financial Enhancement Group LLC lifted its holdings in shares of Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after acquiring an additional 10,003 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. UBS Group raised their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

Shares of LMT stock opened at $533.25 on Wednesday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm’s 50 day moving average is $574.83 and its 200-day moving average is $526.21. The firm has a market capitalization of $126.40 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $6.77 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

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.