Sculati Wealth Management LLC Buys Shares of 442 Lockheed Martin Co. (NYSE:LMT)

Sculati Wealth Management LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 442 shares of the aerospace company’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth $26,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter worth about $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC grew its holdings in 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. Finally, Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 1.7 %

LMT opened at $504.27 on Thursday. The firm’s 50 day moving average is $557.18 and its 200-day moving average is $531.98. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $119.53 billion, a P/E ratio of 18.26, a P/E/G ratio of 4.19 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 EPS. Analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.62%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. UBS Group upped their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada decreased their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $612.29.

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.