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 its most recent Form 13F filing with the SEC. The firm bought 477 shares of the aerospace company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LMT. HTLF Bank raised its position in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC raised its holdings in shares of Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after buying an additional 20 shares in the last quarter. Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Goldstein Advisors LLC boosted its stake in Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after buying an additional 21 shares in the last quarter. Finally, Hudock Inc. raised its stake in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now 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 is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the stock from $540.00 to $600.00 in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, UBS Group upped their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating 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 given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Trading Up 1.2 %

NYSE:LMT opened at $571.92 on Friday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm’s fifty day moving average is $545.61 and its 200-day moving average is $488.74. The firm has a market cap of $137.23 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47.

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

Lockheed Martin Announces Dividend

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

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.