Montz Harcus Wealth Management LLC Has $397,000 Stake in Lockheed Martin Co. (NYSE:LMT)

Montz Harcus Wealth Management LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 678 shares of the aerospace company’s stock after buying an additional 22 shares during the period. Montz Harcus Wealth Management LLC’s holdings in Lockheed Martin were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. CVA Family Office LLC lifted its stake in Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. lifted its stake in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares in the last quarter. Quad Cities Investment Group LLC lifted its stake in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank lifted its stake in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares in the last quarter. Finally, tru Independence LLC lifted its stake in Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 20 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of LMT traded down $1.92 during trading hours on Friday, hitting $562.29. 1,077,563 shares of the company were exchanged, compared to its average volume of 1,054,995. The company has a market cap of $134.03 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day moving average is $580.07 and its 200 day moving average is $515.08.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 EPS. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.65 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. 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 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 45.62%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Royal Bank of Canada dropped their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup upped their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Susquehanna dropped their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

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.