Element Wealth LLC Has $308,000 Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Element Wealth LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 12.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 527 shares of the aerospace company’s stock after acquiring an additional 58 shares during the quarter. Element Wealth LLC’s holdings in Lockheed Martin were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. CVA Family Office LLC grew its stake in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. Quad Cities Investment Group LLC increased its stake in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the period. HTLF Bank lifted its position in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC boosted its stake in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the period. Finally, Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research reports. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group raised their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Down 1.2 %

Shares of NYSE LMT opened at $564.21 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market cap of $135.38 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The business has a 50-day moving average price of $579.95 and a 200 day moving average price of $513.50. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Lockheed Martin Company 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.