3,881 Shares in Lockheed Martin Co. (NYSE:LMT) Bought by Napa Wealth Management

Napa Wealth Management purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,881 shares of the aerospace company’s stock, valued at approximately $2,269,000. Lockheed Martin comprises approximately 1.1% of Napa Wealth Management’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC increased its holdings in shares of Lockheed Martin by 1.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 5,346 shares of the aerospace company’s stock valued at $3,125,000 after purchasing an additional 93 shares in the last quarter. Capital City Trust Co. FL increased its holdings in Lockheed Martin by 4.6% in the third quarter. Capital City Trust Co. FL now owns 4,781 shares of the aerospace company’s stock valued at $2,795,000 after buying an additional 210 shares in the last quarter. First Western Trust Bank raised its position in shares of Lockheed Martin by 13.6% in the third quarter. First Western Trust Bank now owns 2,915 shares of the aerospace company’s stock worth $1,704,000 after acquiring an additional 350 shares during the period. Mendel Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.0% during the 3rd quarter. Mendel Capital Management LLC now owns 2,441 shares of the aerospace company’s stock worth $1,427,000 after acquiring an additional 23 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its position in shares of Lockheed Martin by 179.4% during the 3rd quarter. TrinityPoint Wealth LLC now owns 13,690 shares of the aerospace company’s stock valued at $8,003,000 after acquiring an additional 8,791 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

LMT stock opened at $533.00 on Monday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $126.34 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The business has a 50 day simple moving average of $576.52 and a 200-day simple moving average of $525.23.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the company earned $6.77 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 47.79%.

Analysts Set New Price Targets

LMT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $611.00.

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.