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

Wealth Advisors of Tampa Bay LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,511 shares of the aerospace company’s stock, valued at approximately $2,107,000.

Several other institutional investors have also recently made changes to their positions in LMT. Aveo Capital Partners LLC grew its position in shares of Lockheed Martin by 4.1% in the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after acquiring an additional 26 shares during the period. Gryphon Financial Partners LLC grew its holdings in Lockheed Martin by 111.1% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after purchasing an additional 1,209 shares during the period. TrinityPoint Wealth LLC increased its position in Lockheed Martin by 9.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,948 shares of the aerospace company’s stock worth $1,789,000 after buying an additional 344 shares during the last quarter. Clearbridge Investments LLC raised its stake in Lockheed Martin by 1.2% in the fourth quarter. Clearbridge Investments LLC now owns 59,743 shares of the aerospace company’s stock valued at $27,078,000 after buying an additional 727 shares during the period. Finally, Balboa Wealth Partners lifted its position in shares of Lockheed Martin by 11.0% in the fourth quarter. Balboa Wealth Partners now owns 1,153 shares of the aerospace company’s stock valued at $522,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LMT shares. Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.1 %

Shares of 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 firm 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. The business’s fifty day moving average is $543.44 and its 200-day moving average is $487.37.

Lockheed Martin (NYSE:LMT) last issued its 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. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.73 earnings per share. Equities analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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

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.