Orca Wealth Management LLC Buys Shares of 2,613 Lockheed Martin Co. (NYSE:LMT)

Orca Wealth Management LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,613 shares of the aerospace company’s stock, valued at approximately $1,270,000.

A number of other institutional investors also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin during the 3rd quarter valued at approximately $26,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LMT shares. TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Citigroup cut their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $457.89 on Wednesday. The firm has a market capitalization of $108.54 billion, a P/E ratio of 16.58, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm’s 50 day moving average is $498.68 and its two-hundred day moving average is $537.59. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio is currently 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.