Wealth Enhancement Advisory Services LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,471 shares of the aerospace company’s stock, valued at approximately $3,613,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Krane Funds Advisors LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $26,000. Paragon Capital Management LLC lifted its position in shares of Lockheed Martin by 406.7% during the 2nd quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 61 shares during the period. Accurate Investment Solutions Inc. lifted its position in shares of Lockheed Martin by 257.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 54 shares during the period. KCS Wealth Advisory bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $37,000. Finally, MRA Associates USA LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $38,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LMT stock traded up $4.92 on Tuesday, hitting $386.30. 884,908 shares of the company’s stock were exchanged, compared to its average volume of 1,178,215. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $399.96. The stock has a market cap of $107.71 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The company has a 50 day moving average of $380.22 and a 200 day moving average of $365.77.
Lockheed Martin announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s dividend payout ratio is currently 49.30%.
A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Buckingham Research upped their target price on Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Barclays reiterated a “hold” rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. Finally, DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $371.79.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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