Stockman Wealth Management Inc. Boosts Position in Lockheed Martin Co. (NYSE:LMT)

Stockman Wealth Management Inc. boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,937 shares of the aerospace company’s stock after purchasing an additional 331 shares during the quarter. Lockheed Martin accounts for approximately 1.6% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Stockman Wealth Management Inc.’s holdings in Lockheed Martin were worth $10,485,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Crossmark Global Holdings Inc. raised its holdings in Lockheed Martin by 77.8% in the third quarter. Crossmark Global Holdings Inc. now owns 7,113 shares of the aerospace company’s stock valued at $4,158,000 after buying an additional 3,113 shares during the period. Brickley Wealth Management acquired a new position in shares of Lockheed Martin during the third quarter worth $216,000. Tyler Stone Wealth Management lifted its position in shares of Lockheed Martin by 105.7% during the third quarter. Tyler Stone Wealth Management now owns 691 shares of the aerospace company’s stock worth $404,000 after purchasing an additional 355 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Lockheed Martin by 130.2% during the third quarter. Baker Avenue Asset Management LP now owns 1,411 shares of the aerospace company’s stock worth $825,000 after purchasing an additional 798 shares in the last quarter. Finally, Colonial River Investments LLC lifted its position in shares of Lockheed Martin by 142.6% during the third quarter. Colonial River Investments LLC now owns 1,669 shares of the aerospace company’s stock worth $976,000 after purchasing an additional 981 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LMT. Barclays boosted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $12.72 during trading on Friday, hitting $564.56. 1,166,089 shares of the stock were exchanged, compared to its average volume of 1,011,745. The stock’s fifty day moving average is $578.06 and its 200 day moving average is $521.64. The stock has a market cap of $133.82 billion, a PE ratio of 20.44, a P/E/G ratio of 4.51 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 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.