NewEdge Wealth LLC Buys 5,987 Shares of Lockheed Martin Corporation $LMT

NewEdge Wealth LLC grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,832 shares of the aerospace company’s stock after buying an additional 5,987 shares during the period. NewEdge Wealth LLC’s holdings in Lockheed Martin were worth $27,362,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LMT. Barnes Dennig Private Wealth Management LLC increased its stake in Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the third quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Lockheed Martin in the second quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Lockheed Martin during the third quarter valued at approximately $35,000. Finally, MTM Investment Management LLC bought a new stake in Lockheed Martin during the second quarter valued at approximately $36,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $650.67 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $660.55. The business’s 50 day simple moving average is $556.48 and its two-hundred day simple moving average is $499.04. The stock has a market capitalization of $149.71 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.23.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the business posted $7.67 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a $3.45 dividend. The ex-dividend date is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. Lockheed Martin’s payout ratio is presently 64.22%.

Analyst Ratings Changes

LMT has been the topic of a number of research analyst reports. Susquehanna reissued a “positive” rating and issued a $660.00 price target on shares of Lockheed Martin in a report on Thursday, January 15th. Morgan Stanley set a $675.00 target price on Lockheed Martin in a research note on Wednesday, February 4th. The Goldman Sachs Group raised their price target on Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a research report on Monday, February 2nd. Robert W. Baird upped their price objective on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Finally, Jefferies Financial Group raised their price objective on Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a report on Sunday, February 1st. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus target price of $612.50.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.