853 Shares in Lockheed Martin Co. (NYSE:LMT) Bought by Brophy Wealth Management LLC

Brophy Wealth Management LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) during the third quarter, Holdings Channel reports. The fund bought 853 shares of the aerospace company’s stock, valued at approximately $499,000.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. boosted its position in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares during the period. Old West Investment Management LLC boosted its position in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the period. Empower Advisory Group LLC boosted its position in shares of Lockheed Martin by 9.1% in the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after buying an additional 1,843 shares during the period. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin in the second quarter worth $6,611,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

NYSE LMT opened at $512.85 on Wednesday. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The stock’s 50-day moving average is $561.02 and its two-hundred day moving average is $531.86. 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 cap of $121.57 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 4.19 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted 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. 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%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $6.77 earnings per share. On average, analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.57%. Lockheed Martin’s payout ratio is presently 47.79%.

Analyst Ratings Changes

Several brokerages have recently commented on LMT. Susquehanna decreased their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report 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 report on Friday, August 30th. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus 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.