Meadow Creek Wealth Advisors LLC Buys 58 Shares of Lockheed Martin Co. (NYSE:LMT)

Meadow Creek Wealth Advisors LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 874 shares of the aerospace company’s stock after buying an additional 58 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Lockheed Martin were worth $511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevated Capital Advisors LLC grew its stake in shares of Lockheed Martin by 3.3% in the third quarter. Elevated Capital Advisors LLC now owns 1,100 shares of the aerospace company’s stock worth $643,000 after purchasing an additional 35 shares during the last quarter. Marietta Wealth Management LLC grew its stake in shares of Lockheed Martin by 2.3% in the third quarter. Marietta Wealth Management LLC now owns 10,742 shares of the aerospace company’s stock worth $6,279,000 after purchasing an additional 245 shares during the last quarter. Lazari Capital Management Inc. bought a new stake in shares of Lockheed Martin in the third quarter worth about $204,000. Community Trust & Investment Co. bought a new stake in shares of Lockheed Martin in the third quarter worth about $513,000. Finally, BLB&B Advisors LLC grew its stake in shares of Lockheed Martin by 1.0% in the third quarter. BLB&B Advisors LLC now owns 25,030 shares of the aerospace company’s stock worth $14,632,000 after purchasing an additional 242 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LMT. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Susquehanna cut their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $599.21.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $578.10 on Wednesday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market cap of $138.71 billion, a P/E ratio of 21.15, a PEG ratio of 4.84 and a beta of 0.47. The company has a 50 day moving average of $579.79 and a 200 day moving average of $513.10. 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 (NYSE:LMT) last announced its quarterly earnings data 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 company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 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.