MGB Wealth Management LLC Grows Position in Lockheed Martin Corporation $LMT

MGB Wealth Management LLC increased its holdings in Lockheed Martin Corporation (NYSE:LMT) by 87.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,411 shares of the aerospace company’s stock after buying an additional 1,124 shares during the quarter. MGB Wealth Management LLC’s holdings in Lockheed Martin were worth $1,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LMT. Old North State Wealth Management LLC lifted its position in Lockheed Martin by 2.0% during the third quarter. Old North State Wealth Management LLC now owns 1,073 shares of the aerospace company’s stock valued at $539,000 after purchasing an additional 21 shares during the period. GS Investments Inc. grew its position in Lockheed Martin by 1.0% in the 3rd quarter. GS Investments Inc. now owns 2,231 shares of the aerospace company’s stock worth $1,114,000 after purchasing an additional 22 shares during the period. Barnes Wealth Management Group Inc raised its stake in Lockheed Martin by 4.2% during the 2nd quarter. Barnes Wealth Management Group Inc now owns 567 shares of the aerospace company’s stock valued at $263,000 after buying an additional 23 shares during the last quarter. Collective Family Office LLC lifted its holdings in shares of Lockheed Martin by 4.6% during the 3rd quarter. Collective Family Office LLC now owns 527 shares of the aerospace company’s stock valued at $263,000 after buying an additional 23 shares during the period. Finally, Financial Partners Group Inc lifted its holdings in Lockheed Martin by 4.3% in the third quarter. Financial Partners Group Inc now owns 555 shares of the aerospace company’s stock valued at $277,000 after acquiring an additional 23 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LMT. TD Cowen increased their price objective on shares of Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. The Goldman Sachs Group increased their price target on shares of Lockheed Martin from $464.00 to $517.00 and gave the stock a “sell” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Sanford C. Bernstein restated a “market perform” rating and issued a $654.00 price objective on shares of Lockheed Martin in a research note on Friday, February 6th. Finally, Truist Financial raised their target price on Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $641.47 on Friday. The firm has a market cap of $147.59 billion, a PE ratio of 29.85, a PEG ratio of 1.17 and a beta of 0.23. The stock has a 50 day moving average of $578.05 and a 200 day moving average of $508.04. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $669.75.

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

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.22%.

Lockheed Martin Company Profile

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.