Masso Torrence Wealth Management Inc. Has $556,000 Stake in Lockheed Martin Co. (NYSE:LMT)

Masso Torrence Wealth Management Inc. lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 5.3% in the second quarter, HoldingsChannel.com reports. The firm owned 1,191 shares of the aerospace company’s stock after purchasing an additional 60 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Lockheed Martin were worth $556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Pacific Financial acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in Lockheed Martin during the 4th quarter worth $26,000. Wiser Advisor Group LLC grew its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin during the 1st quarter worth $30,000. Finally, Thompson Investment Management Inc. acquired a new stake in Lockheed Martin during the 1st quarter worth $38,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Bank of America raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $465.00 to $635.00 in a report on Wednesday, July 31st. Citigroup lifted their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Susquehanna lifted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $541.85.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Down 0.2 %

LMT traded down $1.38 during trading on Tuesday, hitting $557.01. The company had a trading volume of 870,807 shares, compared to its average volume of 1,082,750. The firm’s 50-day moving average price is $498.35 and its 200 day moving average price is $466.63. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $564.22. The company has a market capitalization of $133.65 billion, a PE ratio of 20.38, a PEG ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS 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 analysts’ expectations of $17.05 billion. During the same period in the previous year, the firm posted $6.73 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.26%. Lockheed Martin’s dividend payout ratio is presently 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.