Wealth Advisors of Tampa Bay LLC Purchases Shares of 4,511 Lockheed Martin Co. (NYSE:LMT)

Wealth Advisors of Tampa Bay LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,511 shares of the aerospace company’s stock, valued at approximately $2,107,000.

A number of other institutional investors have also added to or reduced their stakes in LMT. Sachetta LLC raised its stake in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC lifted 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 buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the 1st quarter valued at $30,000. Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Lockheed Martin during the second quarter worth $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on LMT. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $500.00 to $600.00 in a report on Monday, August 5th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Barclays lifted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

NYSE LMT opened at $565.18 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73. The business has a 50 day simple moving average of $543.44 and a 200 day simple moving average of $487.37. The stock has a market cap of $135.61 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $6.73 earnings per share. Analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.23%. Lockheed Martin’s payout ratio is presently 46.10%.

About Lockheed Martin

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.