Meridian Wealth Management LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Meridian Wealth Management LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,766 shares of the aerospace company’s stock, valued at approximately $2,786,000.

Several other institutional investors and hedge funds have also bought and sold shares of LMT. Ameriprise Financial Inc. raised its position in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after buying an additional 31,545 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of 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 valued at $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Legal & General Group Plc raised its position in shares of Lockheed Martin by 14.9% during 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 buying an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 in the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LMT. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT opened at $542.22 on Friday. 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 one year low of $413.92 and a one year high of $618.95. The company has a 50-day simple moving average of $573.12 and a two-hundred day simple moving average of $526.94. The firm has a market capitalization of $128.53 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the business posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts anticipate that Lockheed Martin Co. will post 26.89 EPS 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. Shareholders of record on Monday, December 2nd will be issued 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 annualized dividend and a yield of 2.43%. Lockheed Martin’s dividend payout ratio (DPR) is 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.