BKM Wealth Management LLC Purchases Shares of 420 Lockheed Martin Co. (NYSE:LMT)

BKM Wealth Management LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 420 shares of the aerospace company’s stock, valued at approximately $246,000.

Several other institutional investors have also added to or reduced their stakes in LMT. Stokes Family Office LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at $425,000. Cornerstone Wealth Group LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $707,000. LVW Advisors LLC lifted its position in shares of Lockheed Martin by 23.8% in the 1st quarter. LVW Advisors LLC now owns 972 shares of the aerospace company’s stock worth $442,000 after purchasing an additional 187 shares during the period. Oak Asset Management LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $824,000. Finally, Chapin Davis Inc. lifted its position in shares of Lockheed Martin by 73.7% in the 1st quarter. Chapin Davis Inc. now owns 1,270 shares of the aerospace company’s stock worth $578,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird raised their target price 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, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Stock Down 0.3 %

NYSE:LMT opened at $562.29 on Friday. The firm has a market cap of $134.03 billion, a P/E ratio of 20.36, a P/E/G ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm has a 50-day simple moving average of $580.07 and a two-hundred day simple moving average of $515.08.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $6.77 EPS. Analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.35%. Lockheed Martin’s payout ratio is currently 45.62%.

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.