WESPAC Advisors SoCal LLC Has $1.88 Million Stock Position in Lockheed Martin Corporation $LMT

WESPAC Advisors SoCal LLC increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,057 shares of the aerospace company’s stock after buying an additional 252 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Lockheed Martin were worth $1,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. TruNorth Capital Management LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $31,000. Frazier Financial Advisors LLC acquired a new position in Lockheed Martin during the 2nd quarter valued at about $34,000. EQ Wealth Advisors LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $43,000. GFG Capital LLC acquired a new position in Lockheed Martin during the 2nd quarter valued at about $43,000. Finally, Bernard Wealth Management Corp. lifted its position in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $505.20 on Tuesday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The stock has a market cap of $117.94 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.74 and a beta of 0.28. The stock has a 50-day moving average of $473.51 and a 200-day moving average of $465.36. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.59 billion. During the same period in the prior year, the business earned $7.11 EPS. Lockheed Martin’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is currently 74.32%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group set a $545.00 target price on shares of Lockheed Martin in a research report on Monday. Morgan Stanley upped their target price on shares of Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Robert W. Baird upped their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Finally, Bank of America lowered their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $515.35.

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.