Sonoma Private Wealth LLC Invests $241,000 in Lockheed Martin Co. (NYSE:LMT)

Sonoma Private Wealth LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 412 shares of the aerospace company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Claro Advisors LLC boosted its stake in Lockheed Martin by 197.5% during the third quarter. Claro Advisors LLC now owns 11,898 shares of the aerospace company’s stock valued at $6,955,000 after buying an additional 7,898 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in Lockheed Martin by 18.4% in the third quarter. Onyx Bridge Wealth Group LLC now owns 1,070 shares of the aerospace company’s stock worth $625,000 after acquiring an additional 166 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $144,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Lockheed Martin by 2.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,372 shares of the aerospace company’s stock valued at $13,662,000 after purchasing an additional 580 shares in the last quarter. Finally, Ballast Inc. acquired a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $222,000. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LMT has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Citigroup lifted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Susquehanna upped their target price on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a report on Thursday. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $597.92.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $0.70 during midday trading on Friday, hitting $610.32. The company had a trading volume of 109,750 shares, compared to its average volume of 1,043,378. The stock has a market cap of $146.44 billion, a PE ratio of 22.31, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $614.62. The business’s 50 day simple moving average is $577.08 and its two-hundred day simple moving average is $509.17. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.73 EPS. As a group, equities analysts predict that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.16%. Lockheed Martin’s payout ratio 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.