WESPAC Advisors SoCal LLC Increases Stake in Lockheed Martin Co. (NYSE:LMT)

WESPAC Advisors SoCal LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,756 shares of the aerospace company’s stock after purchasing an additional 107 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Lockheed Martin were worth $2,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of LMT. CVA Family Office LLC lifted its position in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. boosted its position in shares of Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC raised its position in shares of Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC lifted its stake in shares of Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.8 %

LMT opened at $534.83 on Friday. The stock has a 50-day moving average of $576.52 and a 200 day moving average of $524.79. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market cap of $126.78 billion, a P/E ratio of 19.36, a P/E/G ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results 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 return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business earned $6.77 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of analyst reports. UBS Group increased their price target on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley increased their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Susquehanna reduced their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Company 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.