Verdence Capital Advisors LLC Has $3.21 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Verdence Capital Advisors LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,498 shares of the aerospace company’s stock after buying an additional 347 shares during the period. Verdence Capital Advisors LLC’s holdings in Lockheed Martin were worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Wealthspire Advisors LLC increased its stake in shares of Lockheed Martin by 4.4% during the first quarter. Wealthspire Advisors LLC now owns 2,970 shares of the aerospace company’s stock worth $1,351,000 after purchasing an additional 124 shares during the period. WealthPLAN Partners LLC increased its position in Lockheed Martin by 2.8% during the 1st quarter. WealthPLAN Partners LLC now owns 10,448 shares of the aerospace company’s stock worth $4,752,000 after buying an additional 287 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Lockheed Martin by 2.0% during the first quarter. Atomi Financial Group Inc. now owns 1,827 shares of the aerospace company’s stock worth $831,000 after buying an additional 36 shares in the last quarter. Keudell Morrison Wealth Management boosted its position in shares of Lockheed Martin by 4.5% in the first quarter. Keudell Morrison Wealth Management now owns 1,738 shares of the aerospace company’s stock valued at $790,000 after acquiring an additional 75 shares during the period. Finally, GW Henssler & Associates Ltd. grew its stake in shares of Lockheed Martin by 6.4% in the first quarter. GW Henssler & Associates Ltd. now owns 37,915 shares of the aerospace company’s stock valued at $17,246,000 after acquiring an additional 2,293 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 2.4 %

NYSE LMT opened at $564.96 on Friday. The company has a market cap of $133.92 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 4.51 and a beta of 0.49. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. 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 business’s fifty day moving average is $578.06 and its 200 day moving average is $521.21.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin 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.