Marietta Wealth Management LLC Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Marietta Wealth Management LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,742 shares of the aerospace company’s stock after buying an additional 245 shares during the period. Marietta Wealth Management LLC’s holdings in Lockheed Martin were worth $6,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at $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 worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC boosted its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on LMT shares. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $599.93.

Lockheed Martin Price Performance

LMT stock opened at $576.72 on Wednesday. The business has a 50 day simple moving average of $579.79 and a 200-day simple moving average of $513.10. The company has a market capitalization of $138.38 billion, a P/E ratio of 21.10, a PEG ratio of 4.84 and a beta of 0.47. 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 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued 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 net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the business earned $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is 48.30%.

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.