Prospera Private Wealth LLC Invests $99,000 in Lockheed Martin Co. (NYSE:LMT)

Prospera Private Wealth LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 170 shares of the aerospace company’s stock, valued at approximately $99,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after acquiring an additional 249,591 shares in the last quarter. Legal & General Group Plc lifted its position in Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Lockheed Martin by 272.5% in the first quarter. Cetera Investment Advisers now owns 190,039 shares of the aerospace company’s stock valued at $86,443,000 after acquiring an additional 139,025 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given 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, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Up 1.5 %

Shares of LMT stock opened at $542.89 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a market cap of $128.69 billion, a P/E ratio of 19.66, a P/E/G ratio of 4.36 and a beta of 0.49. The stock has a 50 day moving average of $573.68 and a 200 day moving average of $526.39. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the firm earned $6.77 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.43%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

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.