Falcon Wealth Planning Purchases 28 Shares of Lockheed Martin Co. (NYSE:LMT)

Falcon Wealth Planning grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 689 shares of the aerospace company’s stock after acquiring an additional 28 shares during the quarter. Falcon Wealth Planning’s holdings in Lockheed Martin were worth $403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $6,611,000. McAdam LLC lifted its stake in Lockheed Martin by 101.7% in the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after purchasing an additional 594 shares during the last quarter. Verity & Verity LLC grew its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC acquired a new position in Lockheed Martin during the third quarter worth approximately $1,096,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 0.4 %

LMT stock traded up $2.01 during mid-day trading on Tuesday, reaching $545.11. The company’s stock had a trading volume of 86,553 shares, compared to its average volume of 1,049,838. The business’s 50 day moving average price is $578.95 and its 200 day moving average price is $519.48. The company has a market cap of $129.21 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 4.46 and a beta of 0.49. 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.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Analyst Ratings Changes

Several analysts recently commented on LMT shares. 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 report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.