3,881 Shares in Lockheed Martin Co. (NYSE:LMT) Acquired by Napa Wealth Management

Napa Wealth Management purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,881 shares of the aerospace company’s stock, valued at approximately $2,269,000. Lockheed Martin comprises about 1.1% of Napa Wealth Management’s investment portfolio, making the stock its 20th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the second quarter valued at approximately $27,000. Sachetta LLC lifted its holdings in shares of 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 buying an additional 20 shares during the period. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Stephens Consulting LLC boosted its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen increased their price objective 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. Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Morgan Stanley increased 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $533.00 on Monday. The stock has a market capitalization of $126.34 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 4.37 and a beta of 0.49. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company’s 50-day simple moving average is $576.52 and its 200-day simple moving average is $525.23. 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 (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS 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 for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 47.79%.

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.