Prentice Wealth Management LLC Acquires 66 Shares of Lockheed Martin Co. (NYSE:LMT)

Prentice Wealth Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,054 shares of the aerospace company’s stock after purchasing an additional 66 shares during the period. Prentice Wealth Management LLC’s holdings in Lockheed Martin were worth $479,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Paralel Advisors LLC increased its stake in Lockheed Martin by 1.1% during the third quarter. Paralel Advisors LLC now owns 4,046 shares of the aerospace company’s stock valued at $1,655,000 after acquiring an additional 45 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in Lockheed Martin by 11.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,507 shares of the aerospace company’s stock valued at $1,434,000 after purchasing an additional 368 shares in the last quarter. Consolidated Portfolio Review Corp boosted its holdings in shares of Lockheed Martin by 7.8% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 570 shares of the aerospace company’s stock worth $233,000 after acquiring an additional 41 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Lockheed Martin by 1.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,694 shares of the aerospace company’s stock worth $693,000 after acquiring an additional 26 shares in the last quarter. Finally, Paragon Private Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 14.2% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 570 shares of the aerospace company’s stock worth $233,000 after acquiring an additional 71 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.3 %

Shares of LMT traded down $1.34 during trading hours on Wednesday, reaching $466.73. The stock had a trading volume of 249,086 shares, compared to its average volume of 1,075,709. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The firm has a 50-day moving average of $464.34 and a 200 day moving average of $450.00. The company has a market cap of $111.99 billion, a P/E ratio of 16.99, a P/E/G ratio of 4.41 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter last year, the company posted $6.43 earnings per share. Lockheed Martin’s quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Monday, June 3rd. This represents a $12.60 annualized dividend and a yield of 2.70%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Wells Fargo & Company upped their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Finally, UBS Group upped their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $485.40.

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.