Jackson Wealth Management LLC Has $9.28 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Jackson Wealth Management LLC lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 64.1% during the third quarter, HoldingsChannel reports. The firm owned 15,882 shares of the aerospace company’s stock after acquiring an additional 6,203 shares during the quarter. Lockheed Martin comprises 1.1% of Jackson Wealth Management LLC’s holdings, making the stock its 21st largest holding. Jackson Wealth Management LLC’s holdings in Lockheed Martin were worth $9,284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LMT. CVA Family Office LLC raised its stake in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares during the last quarter. Quad Cities Investment Group LLC grew its holdings in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank grew its holdings in shares of Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares in the last quarter. tru Independence LLC grew its holdings in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 20 shares in the last quarter. Finally, Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% in the second 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. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $0.67 during trading hours on Thursday, reaching $571.77. The company had a trading volume of 249,125 shares, compared to its average volume of 1,050,761. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The business has a fifty day simple moving average of $579.95 and a 200 day simple moving average of $513.50. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market cap of $137.19 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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 95.03% and a net margin of 9.48%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company earned $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LMT. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday. Morgan Stanley upped their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America reissued a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

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.