United Asset Strategies Inc. Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

United Asset Strategies Inc. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,833 shares of the aerospace company’s stock after buying an additional 379 shares during the quarter. Lockheed Martin comprises approximately 1.7% of United Asset Strategies Inc.’s investment portfolio, making the stock its 13th biggest holding. United Asset Strategies Inc.’s holdings in Lockheed Martin were worth $18,023,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LMT. Stokes Family Office LLC purchased a new position in shares of Lockheed Martin during the 1st quarter valued at approximately $425,000. Cornerstone Wealth Management LLC increased its stake in Lockheed Martin by 23.9% during the 1st quarter. Cornerstone Wealth Management LLC now owns 2,627 shares of the aerospace company’s stock worth $1,195,000 after buying an additional 507 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Lockheed Martin by 2.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,595 shares of the aerospace company’s stock valued at $726,000 after acquiring an additional 40 shares during the last quarter. Tempus Wealth Planning LLC lifted its position in shares of Lockheed Martin by 11.2% in the first quarter. Tempus Wealth Planning LLC now owns 693 shares of the aerospace company’s stock valued at $315,000 after acquiring an additional 70 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new stake in shares of Lockheed Martin in the first quarter worth approximately $205,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.3 %

Lockheed Martin stock traded up $1.75 during mid-day trading on Thursday, reaching $547.69. 224,485 shares of the company’s stock were exchanged, compared to its average volume of 1,051,837. The company has a fifty day moving average of $579.65 and a 200-day moving average of $517.13. The company has a market cap of $131.41 billion, a P/E ratio of 20.02, a P/E/G ratio of 4.62 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 2.41%. Lockheed Martin’s payout ratio is currently 48.30%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LMT shares. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Wells Fargo & Company lifted 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. One 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 data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price 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.