Cassaday & Co Wealth Management LLC Raises Stock Position in Lockheed Martin Corporation $LMT

Cassaday & Co Wealth Management LLC lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 34.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,096 shares of the aerospace company’s stock after purchasing an additional 1,575 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Lockheed Martin were worth $3,043,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC lifted its holdings in Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after buying an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Lockheed Martin in the second quarter valued at $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Lockheed Martin in the second quarter valued at $29,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Lockheed Martin in the third quarter valued at $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. Susquehanna restated a “positive” rating and set a $660.00 price target on shares of Lockheed Martin in a report on Thursday, January 15th. Robert W. Baird raised their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 16th. TD Cowen lifted their price target on shares of Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Morgan Stanley set a $675.00 price objective on shares of Lockheed Martin in a research report on Wednesday, February 4th. Finally, BNP Paribas Exane lifted their price objective on shares of Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $612.50.

Lockheed Martin Stock Up 2.3%

Shares of NYSE:LMT opened at $652.41 on Tuesday. The firm has a 50 day simple moving average of $549.18 and a 200-day simple moving average of $496.37. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $656.34. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $150.11 billion, a PE ratio of 30.36, a P/E/G ratio of 1.18 and a beta of 0.23.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $7.67 EPS. On average, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is presently 64.22%.

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.