WealthPLAN Partners LLC Has $5.19 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

WealthPLAN Partners LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,114 shares of the aerospace company’s stock after acquiring an additional 666 shares during the quarter. WealthPLAN Partners LLC’s holdings in Lockheed Martin were worth $5,191,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LMT. HTLF Bank increased its holdings in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC increased its stake in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares during the period. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Goldstein Advisors LLC lifted its position in shares of Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after acquiring an additional 21 shares during the period. Finally, Hudock Inc. grew its holdings in shares of Lockheed Martin by 1.3% during the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 0.5 %

Shares of LMT stock opened at $572.92 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $136.56 billion, a P/E ratio of 20.96, a P/E/G ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73. The stock’s fifty day simple moving average is $537.11 and its 200 day simple moving average is $485.28.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the business posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective 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. Susquehanna increased their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $553.43.

About Lockheed Martin

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.