Lockheed Martin Co. (NYSE:LMT) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,655 shares of the aerospace company’s stock after acquiring an additional 6,044 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Lockheed Martin worth $64,766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $58,000. Simplicity Solutions LLC lifted its stake in shares of Lockheed Martin by 4.2% in the 4th quarter. Simplicity Solutions LLC now owns 6,108 shares of the aerospace company’s stock valued at $2,769,000 after purchasing an additional 245 shares during the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of Lockheed Martin by 25.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,057 shares of the aerospace company’s stock worth $1,839,000 after purchasing an additional 829 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $6,073,000. Finally, Granite Bay Wealth Management LLC purchased a new stake in Lockheed Martin in the 4th quarter valued at about $2,150,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. The Goldman Sachs Group reduced their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $500.00 to $600.00 in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $541.85.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

NYSE:LMT traded up $3.00 during mid-day trading on Wednesday, reaching $562.42. 180,062 shares of the stock were exchanged, compared to its average volume of 1,084,236. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $564.22. The company has a 50 day simple moving average of $489.06 and a 200-day simple moving average of $462.03. The stock has a market capitalization of $134.95 billion, a P/E ratio of 20.61, a P/E/G 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, topping 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 business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the firm posted $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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 given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.