Pacific Wealth Strategies Group Inc. Has $1.75 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Pacific Wealth Strategies Group Inc. raised its stake in Lockheed Martin Co. (NYSE:LMT) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,998 shares of the aerospace company’s stock after acquiring an additional 113 shares during the quarter. Lockheed Martin comprises approximately 1.3% of Pacific Wealth Strategies Group Inc.’s investment portfolio, making the stock its 20th biggest holding. Pacific Wealth Strategies Group Inc.’s holdings in Lockheed Martin were worth $1,753,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stokes Family Office LLC bought a new stake in Lockheed Martin during the 1st quarter worth about $425,000. FORVIS Wealth Advisors LLC raised its stake in shares of Lockheed Martin by 10.9% during the first quarter. FORVIS Wealth Advisors LLC now owns 1,113 shares of the aerospace company’s stock worth $506,000 after buying an additional 109 shares during the last quarter. Norden Group LLC boosted its stake in Lockheed Martin by 96.0% in the first quarter. Norden Group LLC now owns 1,186 shares of the aerospace company’s stock valued at $540,000 after acquiring an additional 581 shares during the last quarter. Mission Wealth Management LP grew its holdings in Lockheed Martin by 19.0% during the 1st quarter. Mission Wealth Management LP now owns 4,295 shares of the aerospace company’s stock worth $1,954,000 after acquiring an additional 686 shares during the period. Finally, Prosperity Consulting Group LLC raised its position in shares of Lockheed Martin by 13.5% during the 1st quarter. Prosperity Consulting Group LLC now owns 1,678 shares of the aerospace company’s stock valued at $763,000 after acquiring an additional 199 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 0.1 %

NYSE LMT opened at $546.45 on Friday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock’s 50 day moving average price is $579.44 and its two-hundred day moving average price is $517.34. The stock has a market capitalization of $129.53 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 4.47 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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 net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LMT shares. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company 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 given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.