Allen Wealth Management LLC Buys 47 Shares of Lockheed Martin Co. (NYSE:LMT)

Allen Wealth Management LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,306 shares of the aerospace company’s stock after acquiring an additional 47 shares during the quarter. Lockheed Martin comprises about 2.6% of Allen Wealth Management LLC’s holdings, making the stock its 7th largest holding. Allen Wealth Management LLC’s holdings in Lockheed Martin were worth $3,686,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in shares of Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Legal & General Group Plc raised its position in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after buying an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. grew its position in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LMT shares. UBS Group upped their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley increased their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT opened at $545.35 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a fifty day moving average of $579.25 and a 200-day moving average of $518.42. The company has a market cap of $129.27 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 4.47 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during 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 firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 EPS. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.