King Wealth Management Group Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

King Wealth Management Group reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,790 shares of the aerospace company’s stock after selling 763 shares during the quarter. Lockheed Martin comprises approximately 1.6% of King Wealth Management Group’s holdings, making the stock its 16th largest holding. King Wealth Management Group’s holdings in Lockheed Martin were worth $10,399,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Mattson Financial Services LLC bought a new position in Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC grew its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the period. Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the third quarter worth about $32,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. UBS Group increased their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Down 3.4 %

Lockheed Martin stock opened at $539.04 on Friday. The business’s 50-day simple moving average is $577.75 and its two-hundred day simple moving average is $523.80. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $127.77 billion, a PE ratio of 19.52, a PEG ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.45%. Lockheed Martin’s payout ratio is currently 45.62%.

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.