Visionary Wealth Advisors purchased a new position in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,332 shares of the aerospace company’s stock, valued at approximately $10,358,000.
A number of other large investors also recently modified their holdings of the company. Basso Capital Management L.P. bought a new stake in Lockheed Martin during the 4th quarter worth $25,000. Burnham & Co LLC bought a new position in Lockheed Martin in the second quarter valued at about $25,000. United Financial Planning Group LLC bought a new position in Lockheed Martin in the third quarter valued at about $25,000. Clarity Asset Management Inc. bought a new position in Lockheed Martin in the fourth quarter valued at about $26,000. Finally, Triumph Capital Management boosted its stake in shares of Lockheed Martin by 66.7% during the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.
Lockheed Martin Stock Performance
Shares of LMT stock opened at $563.65 on Tuesday. The stock has a market capitalization of $130.08 billion, a PE ratio of 20.78, a PEG ratio of 0.97 and a beta of 0.10. The business’s 50 day simple moving average is $548.48 and its 200 day simple moving average is $574.85. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. Lockheed Martin Corporation has a one year low of $437.25 and a one year high of $692.00.
Lockheed Martin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 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 2.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Lockheed Martin’s dividend payout ratio (DPR) is currently 50.87%.
Analysts Set New Price Targets
Several analysts have recently weighed in on LMT shares. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Wall Street Zen lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. DZ Bank upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. UBS Group reissued a “neutral” rating and set a $581.00 target price on shares of Lockheed Martin in a report on Friday, July 24th. Finally, Morgan Stanley upped their price target on shares of Lockheed Martin from $653.00 to $690.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $632.39.
Read Our Latest Stock Report on Lockheed Martin
About Lockheed Martin
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
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