Wescott Financial Advisory Group LLC Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Wescott Financial Advisory Group LLC raised its position in Lockheed Martin Co. (NYSE:LMT) by 25.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,605 shares of the aerospace company’s stock after acquiring an additional 529 shares during the period. Wescott Financial Advisory Group LLC’s holdings in Lockheed Martin were worth $1,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Capital Wealth Management LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $201,000. Sfmg LLC increased its stake in shares of Lockheed Martin by 5.1% during the 2nd quarter. Sfmg LLC now owns 858 shares of the aerospace company’s stock worth $401,000 after purchasing an additional 42 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Lockheed Martin by 55.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,457 shares of the aerospace company’s stock worth $19,365,000 after purchasing an additional 14,708 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Lockheed Martin by 21.4% in the 2nd quarter. Wulff Hansen & CO. now owns 2,186 shares of the aerospace company’s stock valued at $1,021,000 after buying an additional 386 shares in the last quarter. Finally, Distillate Capital Partners LLC acquired a new stake in Lockheed Martin during the 2nd quarter valued at $23,052,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

NYSE:LMT opened at $578.63 on Wednesday. The business’s 50-day moving average is $550.14 and its two-hundred day moving average is $491.21. The firm has a market capitalization of $137.92 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $581.75. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

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

Lockheed Martin Announces Dividend

The company also recently declared 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. This represents a $12.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna upped their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 sale, the insider now directly 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 available through the SEC website. 0.17% of the stock is currently owned by company insiders.

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.