49 Wealth Management LLC Makes New $316,000 Investment in Lockheed Martin Co. (NYSE:LMT)

49 Wealth Management LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 540 shares of the aerospace company’s stock, valued at approximately $316,000.

Several other institutional investors have also modified their holdings of LMT. International Assets Investment Management LLC boosted its holdings in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the period. Wulff Hansen & CO. grew its position in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares during the period. Legal & General Group Plc raised its holdings in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after buying an additional 180,074 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Lockheed Martin by 272.5% during the first quarter. Cetera Investment Advisers now owns 190,039 shares of the aerospace company’s stock worth $86,443,000 after buying an additional 139,025 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $542.89 on Friday. The firm’s fifty day simple moving average is $573.68 and its 200 day simple moving average is $526.39. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market capitalization of $128.68 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared 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 is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.43%. Lockheed Martin’s payout ratio is 47.79%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.