Revolve Wealth Partners LLC Acquires New Holdings in Lockheed Martin Co. (NYSE:LMT)

Revolve Wealth Partners LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 493 shares of the aerospace company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares in the last quarter. Legal & General Group Plc lifted its stake in Lockheed Martin by 14.9% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after acquiring an additional 119,052 shares in the last quarter. Wulff Hansen & CO. lifted its stake in 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 acquiring an additional 1,019,281 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LMT. Susquehanna upped their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Melius upgraded 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. Finally, Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $597.92.

Lockheed Martin Stock Performance

LMT opened at $611.81 on Friday. The firm has a market cap of $146.80 billion, a P/E ratio of 22.39, a price-to-earnings-growth 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 debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The business’s fifty day moving average is $578.29 and its 200-day moving average is $510.67.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.73 EPS. Sell-side analysts expect that Lockheed Martin Co. will post 26.68 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 48.30%.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by insiders.

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.