McAdam LLC Increases Stake in Lockheed Martin Co.

McAdam LLC has significantly increased its investment in Lockheed Martin Co. (NYSE:LMT – Free Report) by 101.7% during the third quarter of this year, according to reports from Holdings Channel. Following the acquisition of an additional 594 shares during this period, McAdam LLC now holds a total of 1,178 shares of the aerospace firm's stock. As of its latest filing with the SEC, these holdings have an estimated value of $689,000.

Moreover, other investment funds have also made notable changes to their positions in Lockheed Martin. For instance, Wulff Hansen & CO. remarkably raised its stake in the company by 56,626.7% in the second quarter. They now own 1,021,081 shares, which are valued at approximately $476,947,000 after adding 1,019,281 shares in the last quarter.

Similarly, Van ECK Associates Corp expanded its holdings by 1,075.2% during the first quarter, now owning 481,106 shares worth about $218,841,000 after acquiring an additional 440,169 shares recently. In the same vein, Capital Research Global Investors raised its position by 29.7% in the first quarter, bringing its total to 953,285 shares valued at $433,621,000 following the purchase of an additional 218,506 shares.

National Bank of Canada FI saw a 219.3% increase in its shareholding during the first quarter, owning 318,107 shares valued at $149,138,000 after also acquiring 218,466 additional shares. Finally, Legal & General Group Plc raised its position in Lockheed Martin by 14.9% in the second quarter, now owning 1,384,774 shares worth $646,828,000 after purchasing 180,074 shares total. Currently, approximately 74.19% of Lockheed Martin’s stock is held by hedge funds and institutional investors.

Lockheed Martin Stock Overview

As of recent trading results, Lockheed Martin stock opened at $564.21. The average price over the past 50 days is $579.95, while the two-hundred-day moving average stands at $513.50. The company has a quick ratio of 1.07, a current ratio of 1.24, and a debt-to-equity ratio of 3.10. Over the last year, Lockheed Martin has experienced a low of $413.92 and a high of $618.95. The firm boasts a market capitalization of $135.38 billion, with a P/E ratio of 20.64 and a price-to-earnings-growth ratio of 4.84. The beta is noted at 0.47.

On October 22nd, Lockheed Martin announced its quarterly earnings results, reporting an EPS of $6.84 for the quarter, surpassing analysts’ projections of $6.50 by $0.34. The company recorded a return on equity of 95.03% and a net margin of 9.48%. The revenue for the quarter reached $17.10 billion, slightly below the consensus estimate of $17.38 billion, but it still marked a 1.3% year-over-year increase. Market analysts predict Lockheed Martin will deliver $26.68 in earnings per share for the current year.

Dividend Increase Announced

Lockheed Martin recently confirmed a quarterly dividend to be distributed on December 27th, with shareholders on record as of December 2nd set to receive a dividend of $3.30 per share. This equates to an annualized dividend of $13.20, reflecting a yield of 2.34%. This amount marks an increase from the prior quarterly dividend of $3.15. The company currently has a dividend payout ratio (DPR) of 48.30%.

Analyst Ratings Update

Recent opinions from analysts vary on Lockheed Martin’s stock; StockNews.com adjusted its rating from “strong-buy” to “buy” as of Wednesday. TD Cowen raised its price target from $560.00 to $610.00, also marking it as a “buy.” Melius Research upgraded Lockheed Martin to a “strong-buy” rating on September 3rd, whereas Bank of America reaffirmed their “buy” rating, setting a target of $635.00. Additionally, JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $560.00 to $630.00, labeling it as “overweight.” Among equity research analysts, the stock has received one sell rating, four hold ratings, nine buy ratings, and one strong buy rating. According to MarketBeat data, the average rating for the stock is “Moderate Buy” with a consensus price target of $606.71.

Lockheed Martin Company Profile

Lockheed Martin Corporation is an established security and aerospace firm that specializes in research, design, development, manufacturing, integration, and sustainability of technology systems, products, and services globally. The company is organized into four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

investment, stocks, holdings