Diversify Wealth Management LLC Buys 832 Shares of Lockheed Martin Co. (NYSE:LMT)

Diversify Wealth Management LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 26.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,999 shares of the aerospace company’s stock after purchasing an additional 832 shares during the quarter. Diversify Wealth Management LLC’s holdings in Lockheed Martin were worth $2,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stokes Family Office LLC purchased a new position in shares of Lockheed Martin in the 1st quarter worth approximately $425,000. Allspring Global Investments Holdings LLC raised its holdings in Lockheed Martin by 17.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 193,600 shares of the aerospace company’s stock worth $88,063,000 after purchasing an additional 28,697 shares in the last quarter. Norden Group LLC lifted its position in Lockheed Martin by 3,271.9% during the first quarter. Norden Group LLC now owns 20,400 shares of the aerospace company’s stock valued at $9,281,000 after acquiring an additional 19,795 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 17.3% during the 1st quarter. Westside Investment Management Inc. now owns 1,495 shares of the aerospace company’s stock valued at $679,000 after purchasing an additional 220 shares during the last quarter. Finally, Lee Johnson Capital Management LLC increased its holdings in shares of Lockheed Martin by 8.6% during the first quarter. Lee Johnson Capital Management LLC now owns 908 shares of the aerospace company’s stock valued at $413,000 after acquiring an additional 72 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.1 %

LMT stock traded up $0.43 during midday trading on Wednesday, hitting $547.23. The company’s stock had a trading volume of 275,433 shares, compared to its average volume of 1,052,302. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The firm has a 50-day simple moving average of $579.81 and a 200-day simple moving average of $516.93. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $131.30 billion, a P/E ratio of 19.93, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 EPS. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 represents a $13.20 dividend on an annualized basis and a yield of 2.41%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Susquehanna cut their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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.