Klingman & Associates LLC Buys 73 Shares of Lockheed Martin Corporation $LMT

Klingman & Associates LLC increased its stake in Lockheed Martin Corporation (NYSE:LMT) by 4.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,831 shares of the aerospace company’s stock after purchasing an additional 73 shares during the quarter. Klingman & Associates LLC’s holdings in Lockheed Martin were worth $848,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LMT. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin in the 1st quarter valued at about $31,000. Frazier Financial Advisors LLC bought a new position in Lockheed Martin during the second quarter worth about $34,000. EQ Wealth Advisors LLC acquired a new position in Lockheed Martin during the first quarter worth approximately $43,000. GFG Capital LLC bought a new stake in Lockheed Martin in the second quarter valued at approximately $43,000. Finally, Bernard Wealth Management Corp. lifted its holdings in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 2.0%

LMT opened at $505.20 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The stock has a market capitalization of $117.94 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.74 and a beta of 0.28. The company has a 50-day simple moving average of $473.51 and a 200 day simple moving average of $465.36.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the business posted $7.11 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a dividend of $3.45 per share. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LMT shares. Vertical Research restated a “hold” rating and set a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. Truist Financial boosted their price target on Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. Sanford C. Bernstein boosted their target price on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Bank of America lowered their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $515.35.

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.