Assetmark Inc. Buys 19 Shares of Lockheed Martin Co. (NYSE:LMT)

Assetmark Inc. grew its stake in Lockheed Martin Co. (NYSE:LMT) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470 shares of the aerospace company’s stock after acquiring an additional 19 shares during the period. Assetmark Inc.’s holdings in Lockheed Martin were worth $859,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mattson Financial Services LLC bought a new position in Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC grew its holdings 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 purchasing an additional 20 shares during the period. Wiser Advisor Group LLC grew its holdings in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Stephens Consulting LLC lifted its position in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin during the third quarter worth approximately $32,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several research reports. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada dropped 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. UBS Group lifted 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, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $534.82 on Friday. The stock has a 50 day moving average of $577.16 and a 200 day moving average of $523.91. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market cap of $126.77 billion, a PE ratio of 19.47, a PEG ratio of 4.56 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.47%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Lockheed Martin Company 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.