OneAscent Financial Services LLC Invests $354,000 in Lockheed Martin Co. (NYSE:LMT)

OneAscent Financial Services LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 605 shares of the aerospace company’s stock, valued at approximately $354,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pitcairn Co. boosted its holdings in shares of Lockheed Martin by 81.1% in the 1st quarter. Pitcairn Co. now owns 4,998 shares of the aerospace company’s stock worth $2,273,000 after acquiring an additional 2,238 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in shares of Lockheed Martin by 7.6% during the first quarter. Evermay Wealth Management LLC now owns 1,179 shares of the aerospace company’s stock worth $536,000 after acquiring an additional 83 shares during the period. Crewe Advisors LLC acquired a new stake in Lockheed Martin in the 1st quarter valued at $247,000. Payden & Rygel Investment Group acquired a new stake in Lockheed Martin in the 1st quarter valued at $1,874,000. Finally, Mattern Capital Management LLC increased its stake in Lockheed Martin by 5.4% in the 1st quarter. Mattern Capital Management LLC now owns 19,752 shares of the aerospace company’s stock valued at $8,985,000 after buying an additional 1,006 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LMT. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Barclays lifted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Down 0.7 %

Shares of NYSE LMT opened at $530.96 on Tuesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The firm has a 50 day moving average price of $575.61 and a two-hundred day moving average price of $525.71. The stock has a market cap of $125.86 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49.

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

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Lockheed Martin 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.