Meridian Wealth Management LLC Takes Position in Lockheed Martin Co. (NYSE:LMT)

Meridian Wealth Management LLC bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,766 shares of the aerospace company’s stock, valued at approximately $2,786,000.

Several other large investors have also recently made changes to their positions in the business. CVA Family Office LLC increased its position in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. increased its position in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares in the last quarter. Salomon & Ludwin LLC increased its position in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC increased its position in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 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

A number of equities research analysts have commented on LMT shares. Susquehanna cut their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Up 0.0 %

LMT opened at $542.22 on Friday. 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’s fifty day moving average is $573.12 and its 200 day moving average is $526.94. The stock has a market cap of $128.53 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its earnings results 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 company 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%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.77 EPS. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.43%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 45.62%.

Lockheed Martin 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.