Synovus Financial Corp Has $37.18 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Synovus Financial Corp increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,602 shares of the aerospace company’s stock after buying an additional 2,558 shares during the period. Synovus Financial Corp’s holdings in Lockheed Martin were worth $37,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter worth $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC grew its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Finally, Stephens Consulting LLC raised its stake in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their target price on 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 upped their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird upped their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $496.69 on Friday. The firm has a 50 day moving average of $555.00 and a 200-day moving average of $531.74. The company has a market cap of $117.74 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 47.79%.

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.