Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Allen Wealth Management LLC

Allen Wealth Management LLC boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,306 shares of the aerospace company’s stock after buying an additional 47 shares during the quarter. Lockheed Martin accounts for approximately 2.6% of Allen Wealth Management LLC’s portfolio, making the stock its 7th largest holding. Allen Wealth Management LLC’s holdings in Lockheed Martin were worth $3,686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the third quarter worth $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter worth about $27,000. Sachetta LLC increased its holdings 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 acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the first quarter valued at about $30,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LMT. UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Morgan Stanley lifted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One research 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. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $545.35 on Friday. The business’s fifty day moving average price is $579.25 and its 200 day moving average price is $518.42. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $129.27 billion, a P/E ratio of 19.74, a PEG ratio of 4.47 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 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.