Wesbanco Bank Inc. Increases Stake in Lockheed Martin Corporation $LMT

Wesbanco Bank Inc. boosted its stake in Lockheed Martin Corporation (NYSE:LMT) by 8.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,911 shares of the aerospace company’s stock after purchasing an additional 2,215 shares during the quarter. Wesbanco Bank Inc.’s holdings in Lockheed Martin were worth $13,933,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC boosted its holdings in Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Lockheed Martin in the 2nd quarter worth about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at about $29,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $638.19 on Tuesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The company’s fifty day moving average price is $530.22 and its two-hundred day moving average price is $488.63. The firm has a market capitalization of $146.83 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.12 and a beta of 0.23. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $646.59.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the firm posted $7.67 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is presently 64.22%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LMT shares. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $492.00 to $611.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Jefferies Financial Group raised their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research note on Sunday, February 1st. BNP Paribas Exane lifted their target price on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, Truist Financial increased their price target on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average price target of $612.50.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.