Pacer Advisors Inc. Raises Stake in Lockheed Martin Co. (NYSE:LMT)

Pacer Advisors Inc. boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 27,577 shares of the aerospace company’s stock after buying an additional 2,298 shares during the period. Pacer Advisors Inc.’s holdings in Lockheed Martin were worth $16,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CVA Family Office LLC increased its position in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. grew its position in Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC lifted its holdings in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC boosted its position in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after buying an additional 19 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

LMT opened at $542.22 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock’s 50 day moving average price is $573.12 and its two-hundred day moving average price is $526.94. The firm has a market capitalization of $128.53 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.43%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Susquehanna lowered their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.