399 Shares in Lockheed Martin Co. (NYSE:LMT) Purchased by Bernardo Wealth Planning LLC

Bernardo Wealth Planning LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 399 shares of the aerospace company’s stock, valued at approximately $243,000.

A number of other large investors also recently bought and sold shares of the stock. Wulff Hansen & CO. lifted its stake 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 valued at $476,947,000 after purchasing an additional 1,019,281 shares during the period. Van ECK Associates Corp grew its position in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the period. Capital Research Global Investors increased its stake in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares in the last quarter. National Bank of Canada FI raised its holdings in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the period. Finally, Legal & General Group Plc boosted 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 worth $646,828,000 after purchasing an additional 180,074 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the subject of several research analyst reports. Susquehanna upped their target price on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday. Barclays upped their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have assigned 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 $597.92.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $611.81 on Friday. The company has a market cap of $146.80 billion, a P/E ratio of 22.39, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62. 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 business has a 50 day moving average of $578.29 and a two-hundred day moving average of $510.67.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations 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 was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $6.73 earnings per share. As a group, analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current 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. 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 2.16%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on 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 owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.