Providence Wealth Advisors LLC Buys Shares of 397 Lockheed Martin Co. (NYSE:LMT)

Providence Wealth Advisors LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, Holdings Channel.com reports. The fund bought 397 shares of the aerospace company’s stock, valued at approximately $228,000.

Several other hedge funds also recently modified their holdings of LMT. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter worth approximately $32,000. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.8 %

Shares of LMT stock opened at $525.75 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one 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 stock has a fifty day moving average price of $569.60 and a 200 day moving average price of $528.50. The stock has a market cap of $124.62 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released 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 company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the firm earned $6.77 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business 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. This represents a $13.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LMT shares. Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays boosted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird raised their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.