BIP Wealth LLC Buys Shares of 405 Lockheed Martin Co. (NYSE:LMT)

BIP Wealth LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 405 shares of the aerospace company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in Lockheed Martin in the 1st quarter valued at about $247,000. Freestone Capital Holdings LLC lifted its holdings in Lockheed Martin by 12.6% in the first quarter. Freestone Capital Holdings LLC now owns 10,878 shares of the aerospace company’s stock valued at $4,948,000 after acquiring an additional 1,215 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in Lockheed Martin in the first quarter worth approximately $271,000. Axxcess Wealth Management LLC increased its stake in Lockheed Martin by 3.0% during the first quarter. Axxcess Wealth Management LLC now owns 9,412 shares of the aerospace company’s stock worth $4,281,000 after acquiring an additional 276 shares during the last quarter. Finally, First Commonwealth Financial Corp PA raised its position in Lockheed Martin by 11.7% in the first quarter. First Commonwealth Financial Corp PA now owns 1,503 shares of the aerospace company’s stock valued at $684,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Barclays boosted their target price on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

LMT stock opened at $533.25 on Wednesday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a market capitalization of $126.40 billion, a P/E ratio of 19.31, a P/E/G ratio of 4.37 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business’s 50-day moving average is $574.83 and its two-hundred day moving average is $526.21.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $17.38 billion. During the same quarter in the previous year, the firm earned $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend 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 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.