Prospera Financial Services Inc Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

Prospera Financial Services Inc grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 16.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,157 shares of the aerospace company's stock after purchasing an additional 2,183 shares during the period. Prospera Financial Services Inc's holdings in Lockheed Martin were worth $8,869,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LMT. Pitcairn Co. grew its position in 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 purchasing an additional 2,238 shares during the period. Evermay Wealth Management LLC grew its position in Lockheed Martin by 7.6% in the 1st quarter. Evermay Wealth Management LLC now owns 1,179 shares of the aerospace company's stock worth $536,000 after purchasing an additional 83 shares during the period. Crewe Advisors LLC bought a new stake in Lockheed Martin in the 1st quarter worth approximately $247,000. Payden & Rygel Investment Group bought a new stake in Lockheed Martin in the 1st quarter worth approximately $1,874,000. Finally, Mattern Capital Management LLC grew its position 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 worth $8,985,000 after purchasing an additional 1,006 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $2.33 during midday trading on Tuesday, reaching $533.29. The company had a trading volume of 516,754 shares, compared to its average volume of 1,062,027. The business's 50-day simple moving average is $575.61 and its 200 day simple moving average is $525.71. The stock has a market cap of $126.41 billion, a P/E ratio of 19.35, a P/E/G ratio of 4.37 and a beta of 0.49. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.77 earnings per share. On average, analysts forecast 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. Investors 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 2.48%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio (DPR) is 45.62%.

Analysts Set New Price Targets

LMT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. StockNews.com downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Melius Research upgraded shares of Lockheed Martin to a "strong-buy" rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $611.00.

About Lockheed Martin

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.