Precedent Wealth Partners LLC Boosts Position in Lockheed Martin Co. (NYSE:LMT)

Precedent Wealth Partners LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,774 shares of the aerospace company’s stock after acquiring an additional 304 shares during the period. Precedent Wealth Partners LLC’s holdings in Lockheed Martin were worth $1,622,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LMT. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its holdings in 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 buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin in the first quarter valued at $30,000. Finally, Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other 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 transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $611.76 on Friday. The company has a market cap of $146.78 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a 50-day moving average price of $578.29 and a two-hundred day moving average price of $510.27. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $614.62.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.73 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LMT shares. Morgan Stanley increased their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Susquehanna boosted their target price on shares of Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays lifted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

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.