TrinityPoint Wealth LLC Purchases 8,791 Shares of Lockheed Martin Co. (NYSE:LMT)

TrinityPoint Wealth LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 179.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,690 shares of the aerospace company’s stock after acquiring an additional 8,791 shares during the period. Lockheed Martin accounts for 1.2% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 15th biggest position. TrinityPoint Wealth LLC’s holdings in Lockheed Martin were worth $8,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LMT. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC increased its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC raised its holdings in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Finally, Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.8 %

NYSE:LMT opened at $534.83 on Monday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $126.77 billion, a P/E ratio of 19.36, a P/E/G ratio of 4.37 and a beta of 0.49. 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 50-day simple moving average of $576.52 and a two-hundred day simple moving average of $525.23.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, UBS Group boosted their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

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.