Moran Wealth Management LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,916 shares of the aerospace company's stock after acquiring an additional 1,334 shares during the period. Lockheed Martin comprises about 1.9% of Moran Wealth Management LLC's holdings, making the stock its 2nd largest holding. Moran Wealth Management LLC's holdings in Lockheed Martin were worth $63,083,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at approximately $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 worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company's stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock worth $31,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on LMT. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 24th. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a "positive" rating for the company in a report on Wednesday, October 23rd. Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. TD Cowen boosted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $611.00.
Read Our Latest Stock Report on Lockheed Martin
Lockheed Martin Price Performance
LMT stock traded up $1.63 during trading on Wednesday, hitting $534.89. The company had a trading volume of 994,314 shares, compared to its average volume of 1,063,588. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a fifty day moving average price of $574.19 and a two-hundred day moving average price of $526.27. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a market cap of $126.79 billion, a P/E ratio of 19.37, a P/E/G ratio of 4.37 and a beta of 0.49.
Lockheed Martin (NYSE:LMT - Get Free Report) 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. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $6.77 EPS. Equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.
Lockheed Martin Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is presently 45.62%.
About Lockheed Martin
(
Free Report)
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.
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