Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Alta Wealth Advisors LLC

by · The Markets Daily

Alta Wealth Advisors LLC increased its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,160 shares of the aerospace company’s stock after purchasing an additional 39 shares during the period. Alta Wealth Advisors LLC’s holdings in Lockheed Martin were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Wulff Hansen & CO. raised its position in 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 worth $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Capital Research Global Investors raised its holdings in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the last quarter. National Bank of Canada FI lifted its position in Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after purchasing an additional 218,466 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMT. Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Susquehanna raised their price target on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $597.92.

Read Our Latest Analysis on LMT

Lockheed Martin Stock Up 0.4 %

Shares of LMT opened at $611.81 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $614.62. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a 50 day moving average price of $578.29 and a 200 day moving average price of $510.67. The stock has a market capitalization of $146.80 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the firm posted $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that Lockheed Martin Co. will post 26.68 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. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Insider Buying and Selling

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Company Profile

(Free Report)

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.

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