Mid American Wealth Advisory Group Inc. Invests $28,000 in Lockheed Martin Corporation $LMT

Mid American Wealth Advisory Group Inc. bought a new position in shares of Lockheed Martin Corporation (NYSE:LMT) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 60 shares of the aerospace company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. Entropy Technologies LP raised its stake in Lockheed Martin by 410.2% during the 1st quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company’s stock worth $7,874,000 after acquiring an additional 14,171 shares in the last quarter. PTM Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth about $377,000. Empowered Funds LLC increased its position in shares of Lockheed Martin by 21.2% during the first quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company’s stock worth $18,038,000 after purchasing an additional 7,052 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at about $413,000. Finally, Founders Capital Management boosted its position in shares of Lockheed Martin by 46.9% in the 2nd quarter. Founders Capital Management now owns 14,568 shares of the aerospace company’s stock valued at $6,747,000 after purchasing an additional 4,648 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America cut their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Sanford C. Bernstein lifted their target price on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a report on Monday. UBS Group set a $545.00 price target on shares of Lockheed Martin in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Finally, Robert W. Baird upped their target price on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $515.35.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $505.20 on Tuesday. The stock has a fifty day moving average price of $473.51 and a 200 day moving average price of $465.36. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The company has a market cap of $117.94 billion, a PE ratio of 28.45, a P/E/G ratio of 1.74 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.11 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company 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 $3.45 dividend. The ex-dividend date is Monday, December 1st. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. Lockheed Martin’s payout ratio is 74.32%.

About Lockheed Martin

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.