Mission Wealth Management LP Grows Position in Lockheed Martin Co. (NYSE:LMT)

Mission Wealth Management LP increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 19.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,295 shares of the aerospace company’s stock after buying an additional 686 shares during the quarter. Mission Wealth Management LP’s holdings in Lockheed Martin were worth $1,954,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First Pacific Financial purchased a new position in Lockheed Martin during the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $26,000. Activest Wealth Management lifted its position in Lockheed Martin by 1,200.0% during the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Iron Horse Wealth Management LLC lifted its position in Lockheed Martin by 1,925.0% during the 4th quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 77 shares during the period. Finally, Thompson Investment Management Inc. acquired a new stake in Lockheed Martin during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. The Goldman Sachs Group reduced their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company raised their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Price Performance

Lockheed Martin stock traded down $3.87 during mid-day trading on Friday, hitting $462.16. 631,595 shares of the company were exchanged, compared to its average volume of 972,964. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The business’s 50 day simple moving average is $465.22 and its two-hundred day simple moving average is $450.97. The company has a market capitalization of $110.89 billion, a P/E ratio of 16.91, a PEG ratio of 4.39 and a beta of 0.46. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $479.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. The company had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. Lockheed Martin’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $6.43 earnings per share. Analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Lockheed Martin 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.