Oppenheimer Asset Management Inc. Increases Position in Lockheed Martin Corporation $LMT

Oppenheimer Asset Management Inc. increased its position in Lockheed Martin Corporation (NYSE:LMT) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,182 shares of the aerospace company’s stock after acquiring an additional 1,484 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lockheed Martin were worth $14,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in LMT. Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 285.7% in the 3rd 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 acquired a new position in Lockheed Martin during the third quarter valued at $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Lockheed Martin in the second quarter valued at $28,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth about $29,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $638.19 on Tuesday. The firm has a fifty day moving average of $530.22 and a 200 day moving average of $488.63. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $646.59. The firm has a market cap of $146.83 billion, a PE ratio of 29.70, a PEG ratio of 1.12 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the company earned $7.67 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Wall Street Analysts Forecast Growth

LMT has been the subject of several analyst reports. Royal Bank Of Canada boosted their price objective on Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Morgan Stanley set a $675.00 price target on Lockheed Martin in a report on Wednesday, February 4th. Citigroup upped their price objective on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a report on Sunday, February 1st. Finally, Susquehanna reiterated a “positive” rating and issued a $660.00 target price on shares of Lockheed Martin in a research note on Thursday, January 15th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin 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.