WESPAC Advisors SoCal LLC Buys 252 Shares of Lockheed Martin Corporation $LMT

WESPAC Advisors SoCal LLC increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,057 shares of the aerospace company’s stock after acquiring an additional 252 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Lockheed Martin were worth $1,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LMT. TruNorth Capital Management LLC bought a new stake in Lockheed Martin in the 1st quarter valued at $31,000. Frazier Financial Advisors LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at $34,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin in the 1st quarter valued at $43,000. GFG Capital LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at $43,000. Finally, Bernard Wealth Management Corp. increased its holdings in Lockheed Martin by 251.9% in the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after buying an additional 68 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wall Street Zen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Susquehanna boosted their price target on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $515.35.

Lockheed Martin Stock Up 2.0%

LMT opened at $505.20 on Tuesday. The firm’s 50-day simple moving average is $473.51 and its 200-day simple moving average is $465.36. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm has a market cap of $117.94 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.74 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share 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 in the prior year, the firm earned $7.11 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared 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. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a yield of 2.7%. Lockheed Martin’s dividend payout ratio is currently 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.