TrinityPoint Wealth LLC Buys 8,791 Shares of Lockheed Martin Co. (NYSE:LMT)

TrinityPoint Wealth LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 179.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,690 shares of the aerospace company’s stock after acquiring an additional 8,791 shares during the period. Lockheed Martin comprises 1.2% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 15th biggest position. TrinityPoint Wealth LLC’s holdings in Lockheed Martin were worth $8,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC grew its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Stephens Consulting LLC lifted its position in shares of Lockheed Martin by 48.9% during 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 in the last quarter. Finally, Burkett Financial Services LLC bought a new position in shares of Lockheed Martin in the third quarter worth $32,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $534.83 on Monday. The company has a market capitalization of $126.77 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 4.37 and a beta of 0.49. The business has a 50 day moving average of $576.52 and a 200 day moving average of $525.23. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business posted $6.77 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays increased their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.