Lockheed Martin Co. (NYSE:LMT) Stake Increased by Altus Wealth Group LLC

Altus Wealth Group LLC grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 11.4% in the third quarter, Holdings Channel.com reports. The firm owned 1,709 shares of the aerospace company’s stock after purchasing an additional 175 shares during the period. Altus Wealth Group LLC’s holdings in Lockheed Martin were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LMT. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at $27,000. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC lifted its holdings in shares of 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 purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the first quarter valued at $30,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada increased their price objective on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $599.21.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $2.84 during midday trading on Wednesday, hitting $579.82. The company’s stock had a trading volume of 217,689 shares, compared to its average volume of 1,048,894. The stock has a market capitalization of $139.12 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 4.84 and a beta of 0.47. The stock’s 50 day simple moving average is $579.79 and its 200 day simple moving average is $513.10. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 earnings per share. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.28%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

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.