Wagner Wealth Management LLC Sells 341 Shares of Lockheed Martin Co. (NYSE:LMT)

Wagner Wealth Management LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 48.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 357 shares of the aerospace company’s stock after selling 341 shares during the quarter. Wagner Wealth Management LLC’s holdings in Lockheed Martin were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its holdings in shares of 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 in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the 1st quarter worth $30,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

Shares of LMT traded up $6.68 during midday trading on Friday, reaching $604.17. 526,025 shares of the stock were exchanged, compared to its average volume of 1,056,277. The company has a market cap of $144.96 billion, a P/E ratio of 22.11, a PEG ratio of 4.84 and a beta of 0.47. The stock’s 50 day simple moving average is $572.03 and its 200 day simple moving average is $505.23. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $611.59. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $17.05 billion. During the same period in the prior year, the business posted $6.73 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LMT shares. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Citigroup raised their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $581.77.

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.