King Wealth Management Group Sells 763 Shares of Lockheed Martin Co. (NYSE:LMT)

King Wealth Management Group lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,790 shares of the aerospace company’s stock after selling 763 shares during the quarter. Lockheed Martin accounts for approximately 1.6% of King Wealth Management Group’s portfolio, making the stock its 16th largest position. King Wealth Management Group’s holdings in Lockheed Martin were worth $10,399,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. CVA Family Office LLC increased its holdings 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 worth $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. increased its holdings in Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC increased its holdings in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC raised its position in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC grew its position in shares of Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after buying an additional 19 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $539.04 on Friday. The firm has a market cap of $127.77 billion, a P/E ratio of 19.52, a PEG ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a 50 day moving average of $577.75 and a 200 day moving average of $523.80.

Lockheed Martin (NYSE:LMT) last posted its earnings results 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 business 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 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 EPS. As a group, research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LMT. Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Finally, Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

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.