Prosperity Financial Group Inc. Buys Shares of 346 Lockheed Martin Co. (NYSE:LMT)

Prosperity Financial Group Inc. bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 346 shares of the aerospace company’s stock, valued at approximately $202,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Lockheed Martin by 130.0% during the 2nd 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 period. Old West Investment Management LLC increased its position in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares during the period. Buck Wealth Strategies LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter valued at $6,611,000. Empower Advisory Group LLC increased its position in shares of Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after purchasing an additional 1,843 shares during the period. Finally, Financial Enhancement Group LLC increased its position in shares of Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after purchasing an additional 10,003 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $542.22 on Monday. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The business has a 50-day moving average of $573.12 and a two-hundred day moving average of $527.79. The stock has a market capitalization of $128.53 billion, a P/E ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

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, topping 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 company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the firm earned $6.77 earnings per share. The business’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 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 given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LMT shares. UBS Group lifted their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

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.