Wealth Enhancement Advisory Services LLC Buys 6,044 Shares of Lockheed Martin Co. (NYSE:LMT)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,655 shares of the aerospace company’s stock after acquiring an additional 6,044 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lockheed Martin were worth $64,766,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LMT. First Pacific Financial bought a new stake in shares of Lockheed Martin in the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd bought a new position in Lockheed Martin during the 4th quarter valued at about $26,000. Wiser Advisor Group LLC boosted its position in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the first quarter worth about $30,000. Finally, Thompson Investment Management Inc. bought a new position in shares of Lockheed Martin in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on LMT shares. Citigroup increased their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $540.00 to $600.00 in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $541.85.

Lockheed Martin Stock Performance

NYSE:LMT traded up $3.00 during mid-day trading on Wednesday, hitting $562.42. 180,062 shares of the stock were exchanged, compared to its average volume of 1,084,236. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm’s 50-day simple moving average is $489.06 and its 200 day simple moving average is $462.03. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $564.22. The stock has a market capitalization of $134.95 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the previous year, the business posted $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

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.