Birchcreek Wealth Management LLC Has $506,000 Position in Lockheed Martin Co. (NYSE:LMT)

Birchcreek Wealth Management LLC reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 865 shares of the aerospace company’s stock after selling 29 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Lockheed Martin were worth $506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares in the last quarter. Old West Investment Management LLC raised its holdings in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the last quarter. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $6,611,000. Empower Advisory Group LLC boosted its position in Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after purchasing an additional 1,843 shares during the period. Finally, Financial Enhancement Group LLC boosted its position in shares of Lockheed Martin by 2,268.3% in the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after acquiring an additional 10,003 shares during the period. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on LMT shares. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

LMT stock traded up $2.69 during mid-day trading on Friday, hitting $541.68. 134,379 shares of the company were exchanged, compared to its average volume of 1,056,106. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a 50 day simple moving average of $577.16 and a 200-day simple moving average of $523.91. The stock has a market capitalization of $128.40 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 earnings per share. On average, equities analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.44%. Lockheed Martin’s dividend payout ratio is currently 45.62%.

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.