Forest Hill Capital LLC Makes New Investment in Lockheed Martin Corporation $LMT

Forest Hill Capital LLC purchased a new position in shares of Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,200 shares of the aerospace company’s stock, valued at approximately $611,000. Lockheed Martin makes up 0.4% of Forest Hill Capital LLC’s holdings, making the stock its 14th largest holding.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Lockheed Martin in the 2nd quarter worth about $9,617,574,000. Corient Private Wealth LP bought a new stake in shares of Lockheed Martin during the second quarter worth about $101,960,000. Bank of New York Mellon Corp bought a new stake in shares of Lockheed Martin during the second quarter worth about $645,258,000. Legal & General Group Plc acquired a new position in shares of Lockheed Martin in the second quarter valued at approximately $497,469,000. Finally, Sanders Capital LLC increased its stake in shares of Lockheed Martin by 44.8% in the third quarter. Sanders Capital LLC now owns 3,030,638 shares of the aerospace company’s stock valued at $1,543,352,000 after buying an additional 937,105 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LMT. TD Cowen dropped their price objective on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a report on Friday, October 9th. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $600.00 to $700.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Rothschild & Co Redburn began coverage on shares of Lockheed Martin in a research report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 price target for the company. Guggenheim began coverage on shares of Lockheed Martin in a research note on Wednesday, November 4th. They set a “buy” rating and a $735.00 price target for the company. Finally, Vertical Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price target for the company in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.

Lockheed Martin Trading Up 1.0%

NYSE LMT opened at $608.94 on Thursday. The firm has a market capitalization of $140.67 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.28 and a beta of 0.07. The business’s 50-day moving average price is $550.90 and its two-hundred day moving average price is $569.81. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. The company had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $6.95 earnings per share. On average, analysts expect that Lockheed Martin Corporation will post 30.66 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a yield of 2.4%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s payout ratio is currently 49.02%.

Top Lockheed Martin Stories

Here are a few of the latest stories about LMT:

• Positive Sentiment: Recent commentary points to a record $292 billion backlog, existing contracts and an F-35 framework that supports planning and investment. Those factors provide revenue visibility despite debate over next year’s defense budget. Lockheed Martin Stock (LMT) Looks Attractive Despite the Budget Debate
• Positive Sentiment: Coverage of Lockheed Martin’s October rally cites strong third-quarter results and longer-term F-35 and missile demand, along with long-term procurement agreements with the Department of Defense. This reinforces the favorable earnings and demand outlook, though it largely reflects previously reported news. Why Lockheed Martin Rallied in October
• Negative Sentiment: Uncertainty about next year’s Pentagon budget could weigh on investor expectations for future defense spending. The existing backlog and contracts may cushion this risk, but do not eliminate it. Lockheed Martin Stock Looks Attractive Despite the Budget Debate

About Lockheed Martin

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.