Evergreen Wealth Management LLC Acquires 1,057 Shares of Lockheed Martin Co. (NYSE:LMT)

Evergreen Wealth Management LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 19.6% in the third quarter, Holdings Channel reports. The firm owned 6,440 shares of the aerospace company’s stock after purchasing an additional 1,057 shares during the quarter. Lockheed Martin comprises about 2.3% of Evergreen Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Evergreen Wealth Management LLC’s holdings in Lockheed Martin were worth $3,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in shares of Lockheed Martin by 1.7% in the second 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 raised its stake 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 last quarter. Legal & General Group Plc raised its stake 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 acquiring an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. raised its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LMT. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Barclays raised their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. UBS Group raised their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Down 0.8 %

LMT traded down $4.16 during trading on Friday, reaching $534.83. 1,757,312 shares of the company’s stock were exchanged, compared to its average volume of 1,063,416. The company’s fifty day moving average price is $576.52 and its 200-day moving average price is $524.37. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm has a market capitalization of $126.78 billion, a PE ratio of 19.36, a P/E/G ratio of 4.56 and a beta of 0.49.

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

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. Lockheed Martin’s payout ratio is 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.