WealthPlan Investment Management LLC Purchases 3,637 Shares of Lockheed Martin Co. (NYSE:LMT)

WealthPlan Investment Management LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 30.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,474 shares of the aerospace company’s stock after purchasing an additional 3,637 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Lockheed Martin were worth $9,046,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Lockheed Martin in the 3rd quarter valued at $780,000. Apollon Wealth Management LLC boosted its stake in Lockheed Martin by 1.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 10,223 shares of the aerospace company’s stock valued at $5,976,000 after purchasing an additional 117 shares during the period. WCM Investment Management LLC boosted its stake in Lockheed Martin by 317.3% in the 3rd quarter. WCM Investment Management LLC now owns 3,585 shares of the aerospace company’s stock valued at $2,088,000 after purchasing an additional 2,726 shares during the period. Lynx Investment Advisory boosted its stake in Lockheed Martin by 28.8% in the 3rd quarter. Lynx Investment Advisory now owns 443 shares of the aerospace company’s stock valued at $259,000 after purchasing an additional 99 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Lockheed Martin by 13.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,432 shares of the aerospace company’s stock valued at $2,007,000 after acquiring an additional 412 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company upped 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. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Price Performance

Shares of LMT opened at $570.58 on Tuesday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The business has a 50-day simple moving average of $578.11 and a two-hundred day simple moving average of $522.83. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $135.25 billion, a PE ratio of 20.66, a PEG ratio of 4.62 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal 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 paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.31%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

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.