Western Pacific Wealth Management LP Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Western Pacific Wealth Management LP increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 61.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 187 shares of the aerospace company’s stock after acquiring an additional 71 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Lockheed Martin were worth $109,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Legal & General Group Plc grew its stake in 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 worth $646,828,000 after purchasing an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after buying an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price objective 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $551.98 on Friday. 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 12-month low of $413.92 and a 12-month high of $618.95. The stock has a 50 day simple moving average of $578.42 and a 200-day simple moving average of $520.28. The company has a market cap of $130.84 billion, a PE ratio of 19.98, a P/E/G ratio of 4.44 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

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.