Asset Planning Corporation Invests $358,000 in Lockheed Martin Co. (NYSE:LMT)

Asset Planning Corporation bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 612 shares of the aerospace company’s stock, valued at approximately $358,000.

A number of other institutional investors have also recently added to or reduced their stakes in LMT. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth about $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC lifted its position 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. Wiser Advisor Group LLC boosted its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LMT. UBS Group lifted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Susquehanna upped their price objective on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America reiterated 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 issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $597.92.

Lockheed Martin Trading Up 0.4 %

Shares of LMT traded up $2.64 during trading on Monday, reaching $614.45. 357,143 shares of the company traded hands, compared to its average volume of 1,043,776. The stock has a 50-day simple moving average of $578.29 and a 200-day simple moving average of $511.11. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a market cap of $147.43 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.73 earnings per share. On average, analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.15%. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

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.