Banco Bilbao Vizcaya Argentaria S.A. Grows Stock Position in Lockheed Martin Corporation $LMT

Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Lockheed Martin Corporation (NYSE:LMT) by 78.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,247 shares of the aerospace company’s stock after acquiring an additional 3,623 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Lockheed Martin were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Carnegie Investment Counsel raised its holdings in shares of Lockheed Martin by 11.4% in the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock worth $14,796,000 after acquiring an additional 3,031 shares during the last quarter. VCI Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at $3,075,000. DAVENPORT & Co LLC boosted its stake in shares of Lockheed Martin by 22.4% during the third quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after acquiring an additional 4,652 shares during the last quarter. Farther Finance Advisors LLC increased its position in Lockheed Martin by 29.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock worth $5,010,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Lockheed Martin by 9.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock worth $19,674,000 after purchasing an additional 3,352 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.1%

Shares of LMT stock opened at $645.16 on Tuesday. The firm has a market cap of $148.44 billion, a P/E ratio of 30.02, a PEG ratio of 1.16 and a beta of 0.22. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $692.00. 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 firm’s 50-day simple moving average is $619.20 and its 200-day simple moving average is $527.13.

Lockheed Martin (NYSE:LMT) last released 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 net margin of 6.69% and a return on equity of 108.53%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm posted $7.67 earnings per share. Lockheed Martin’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.1%. Lockheed Martin’s payout ratio is currently 64.22%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LMT. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a report on Friday, January 30th. Robert W. Baird lifted their price target on shares of Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Argus boosted their price objective on shares of Lockheed Martin from $530.00 to $735.00 and gave the company a “buy” rating in a research report on Friday, March 6th. The Goldman Sachs Group upped their price objective on shares of Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a research note on Monday, February 2nd. Finally, Jefferies Financial Group raised their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the stock a “hold” rating in a research report on Sunday, February 1st. Six investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $618.95.

About Lockheed Martin

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.