Meridian Wealth Management LLC raised its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 149.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,960 shares of the aerospace company’s stock after acquiring an additional 7,156 shares during the period. Meridian Wealth Management LLC’s holdings in Lockheed Martin were worth $4,892,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in LMT. Edmond DE Rothschild Holding S.A. lifted its position in Lockheed Martin by 100.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 30 shares in the last quarter. CGC Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $31,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Lockheed Martin during the fourth quarter worth $31,000. Alaska Permanent Fund Corp acquired a new position in shares of Lockheed Martin during the second quarter worth $35,000. Finally, KB Financial Partners LLC acquired a new position in shares of Lockheed Martin during the first quarter worth $35,000. Institutional investors and hedge funds own 74.26% of the company’s stock.
Analysts Set New Price Targets
LMT has been the topic of a number of recent research reports. Jefferies Financial Group reduced their target price on shares of Lockheed Martin from $505.00 to $455.00 and set a “hold” rating on the stock in a research report on Wednesday, October 4th. Morgan Stanley dropped their price target on shares of Lockheed Martin from $532.00 to $510.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $495.00 to $481.00 and set a “neutral” rating for the company in a research note on Wednesday, October 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lockheed Martin in a report on Wednesday, September 27th. They issued a “hold” rating and a $435.00 price objective for the company. Finally, UBS Group initiated coverage on shares of Lockheed Martin in a report on Tuesday, October 10th. They issued a “neutral” rating and a $470.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average price target of $484.07.
Lockheed Martin Stock Performance
Shares of LMT traded up $0.20 during mid-day trading on Monday, hitting $448.22. The company’s stock had a trading volume of 623,700 shares, compared to its average volume of 1,240,938. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $508.10. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.16 and a current ratio of 1.36. The firm has a market capitalization of $111.20 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.89 and a beta of 0.57. The stock’s 50-day moving average is $447.28 and its two-hundred day moving average is $445.11.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Tuesday, October 17th. The aerospace company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.67 by $0.10. The firm had revenue of $16.88 billion during the quarter, compared to analysts’ expectations of $16.73 billion. Lockheed Martin had a return on equity of 75.46% and a net margin of 10.29%. Lockheed Martin’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $6.87 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.2 EPS for the current year.
Lockheed Martin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $3.15 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.00. This represents a $12.60 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is 46.04%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.