Probity Advisors Inc. Has $1.74 Million Stock Position in Lockheed Martin Corporation $LMT

Probity Advisors Inc. lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,759 shares of the aerospace company’s stock after buying an additional 140 shares during the quarter. Probity Advisors Inc.’s holdings in Lockheed Martin were worth $1,741,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lockheed Martin in the second quarter worth $28,000. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin in the first quarter worth $31,000. Frazier Financial Advisors LLC bought a new position in shares of Lockheed Martin in the second quarter worth $34,000. EQ Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the first quarter worth $43,000. Finally, GFG Capital LLC bought a new position in shares of Lockheed Martin in the second quarter worth $43,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of a number of recent analyst reports. TD Cowen restated a “hold” rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Sanford C. Bernstein lifted their target price on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research report on Monday. Wall Street Zen cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Truist Financial lifted their target price on Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their target price on Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $515.35.

Lockheed Martin Stock Performance

NYSE:LMT opened at $505.20 on Tuesday. The stock has a market cap of $117.94 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 1.74 and a beta of 0.28. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock’s 50-day moving average is $473.51 and its 200-day moving average is $465.36. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to analysts’ expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $7.11 earnings per share. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is presently 74.32%.

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.