Merriman Wealth Management LLC Makes New $223,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Merriman Wealth Management LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 477 shares of the aerospace company’s stock, valued at approximately $223,000.

Several other institutional investors also recently modified their holdings of LMT. Alaethes Wealth LLC boosted its stake in Lockheed Martin by 2.5% in the second quarter. Alaethes Wealth LLC now owns 3,387 shares of the aerospace company’s stock valued at $1,582,000 after acquiring an additional 82 shares during the last quarter. TPG Advisors LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $224,000. Summit Trail Advisors LLC boosted its position in shares of Lockheed Martin by 184.6% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,580 shares of the aerospace company’s stock worth $9,613,000 after purchasing an additional 13,348 shares during the last quarter. Capstone Triton Financial Group LLC grew its stake in shares of Lockheed Martin by 13.5% during the second quarter. Capstone Triton Financial Group LLC now owns 1,617 shares of the aerospace company’s stock worth $755,000 after purchasing an additional 192 shares during the period. Finally, Boston Research & Management Inc. increased its holdings in Lockheed Martin by 0.4% in the second quarter. Boston Research & Management Inc. now owns 10,980 shares of the aerospace company’s stock valued at $5,128,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Up 1.2 %

NYSE:LMT opened at $571.92 on Friday. The business has a 50 day moving average price of $545.61 and a two-hundred day moving average price of $488.74. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market cap of $137.23 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share 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 the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.73 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LMT. Susquehanna raised their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $553.43.

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.