WealthPLAN Partners LLC Acquires 666 Shares of Lockheed Martin Co. (NYSE:LMT)

WealthPLAN Partners LLC increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,114 shares of the aerospace company’s stock after purchasing an additional 666 shares during the quarter. WealthPLAN Partners LLC’s holdings in Lockheed Martin were worth $5,191,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its stake in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter worth about $30,000. 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 purchasing an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Lockheed Martin in the second quarter valued at about $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $572.92 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The business’s 50 day moving average price is $537.11 and its two-hundred day moving average price is $485.28. The company has a market cap of $136.56 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the firm earned $6.73 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.