49 Wealth Management LLC Acquires New Position in Lockheed Martin Co. (NYSE:LMT)

49 Wealth Management LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, HoldingsChannel reports. The firm bought 540 shares of the aerospace company’s stock, valued at approximately $316,000.

Several other hedge funds also recently made changes to their positions in LMT. Burkett Financial Services LLC bought a new position in Lockheed Martin in the third quarter worth about $32,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC grew its stake in 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 buying an additional 25 shares during the last quarter. Finally, Stephens Consulting LLC increased its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One equities research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Up 1.5 %

Shares of Lockheed Martin stock opened at $542.89 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market cap of $128.68 billion, a P/E ratio of 19.66, a P/E/G ratio of 4.36 and a beta of 0.49. 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 stock has a 50-day moving average price of $573.68 and a 200 day moving average price of $526.39.

Lockheed Martin (NYSE:LMT) 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 47.79%.

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.