McAdam LLC Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

McAdam LLC has significantly increased its investment in Lockheed Martin Co. (NYSE:LMT), raising its holdings by an impressive 101.7% during the third quarter of the year. The latest reports indicate that the fund now owns 1,178 shares of the aerospace company's stock, having acquired an additional 594 shares in this period. The value of McAdam LLC's stake in Lockheed Martin stands at approximately $689,000 according to its recent SEC filing.

In recent months, several other hedge funds have also adjusted their positions in Lockheed Martin. Notably, Wulff Hansen & Company made headlines by increasing its stake by a staggering 56,626.7% during the second quarter. As a result, Wulff Hansen now holds 1,021,081 shares valued at around $476,947,000, after purchasing an additional 1,019,281 shares in the last quarter.

Similarly, Van ECK Associates Corp boosted its holdings by 1,075.2% in the first quarter, bringing their total to 481,106 shares worth $218,841,000 after a purchase of 440,169 additional shares. Additionally, Capital Research Global Investors increased its position by 29.7% in the same quarter, raising its holdings to 953,285 shares valued at $433,621,000 with an additional purchase of 218,506 shares.

Further moves include National Bank of Canada FI, which increased its position by 219.3%, resulting in ownership of 318,107 shares valued at $149,138,000 after acquiring 218,466 extra shares. Legal & General Group Plc also added to its holdings, raising its position by 14.9% during the second quarter and now owns 1,384,774 shares worth $646,828,000 after purchasing an additional 180,074 shares. Collectively, institutional investors and hedge funds own approximately 74.19% of Lockheed Martin's stock.

Lockheed Martin Stock Highlights

As of last Friday, Lockheed Martin's stock opened at $564.21. The stock's performance indicates a 50-day moving average price of $579.95, while its 200-day moving average price stands at $513.50. The company exhibits a quick ratio of 1.07, a current ratio of 1.24, and a relatively high debt-to-equity ratio of 3.10. Throughout the past year, Lockheed Martin has experienced a low of $413.92 and a high of $618.95, with a current market capitalization of $135.38 billion. The company's price-to-earnings ratio is noted at 20.64, and it maintains a price-to-earnings-growth ratio of 4.84, alongside a beta of 0.47.

Recently, Lockheed Martin announced its quarterly earnings, reporting an earnings-per-share (EPS) of $6.84 for the quarter, which surpassed analysts' expectations of $6.50 by $0.34. The company achieved a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin reported revenue of $17.10 billion, slightly shy of the $17.38 billion forecast by analysts. This revenue reflects a year-over-year increase of 1.3% compared to the same quarter last year, during which the company earned $6.77 EPS. Analysts predict that Lockheed Martin will post an EPS of 26.68 for the current fiscal year.

Dividend Increase Announcement

Lockheed Martin also revealed a forthcoming dividend, scheduled to be paid on Friday, December 27th. Shareholders who are on record as of Monday, December 2nd, will receive a dividend of $3.30. The ex-dividend date is also set for December 2nd. This increased amount signifies a total dividend of $13.20 on an annualized basis, resulting in a dividend yield of 2.34%. This new rate reflects an increase from the previous quarterly dividend amount of $3.15, with a current dividend payout ratio of 48.30%.

Recent Analyst Ratings

Market analysts have made various assessments on Lockheed Martin’s stock recently. StockNews.com has lowered its rating from “strong-buy” to “buy.” Conversely, TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00, also assigning a “buy” rating. Moreover, Melius Research upgraded its stance to a “strong-buy.” Bank of America reaffirmed a “buy” rating and set a price objective of $635.00, while JPMorgan Chase & Co. increased its target from $560.00 to $630.00, offering an “overweight” rating. In total, one analyst has issued a sell rating, four have assigned a hold rating, while nine analysts have a buy rating and one a strong buy rating for Lockheed Martin stock. Data from MarketBeat suggests that the average rating remains as a “Moderate Buy” with a consensus price target set at $606.71.

Company Overview

Lockheed Martin Overview

Lockheed Martin Corporation is a leading global security and aerospace firm engaged in research, design, development, manufacturing, integration, and sustaining critical technology systems, products, and services on a worldwide scale. The company operates various segments, including Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

Investment, Aerospace, Dividend