Axxcess Wealth Management LLC Boosts Stock Position in Lockheed Martin Corporation $LMT

Axxcess Wealth Management LLC lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 73.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,484 shares of the aerospace company’s stock after acquiring an additional 3,582 shares during the period. Axxcess Wealth Management LLC’s holdings in Lockheed Martin were worth $4,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Barnes Dennig Private Wealth Management LLC increased its position in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in Lockheed Martin during the third quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC purchased a new position in Lockheed Martin during the second quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Lockheed Martin during the 3rd quarter worth approximately $35,000. Finally, MTM Investment Management LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $36,000. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Morgan Stanley set a $675.00 price target on shares of Lockheed Martin in a research report on Wednesday, February 4th. UBS Group lifted their price objective on Lockheed Martin from $580.00 to $663.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Susquehanna restated a “positive” rating and set a $660.00 target price on shares of Lockheed Martin in a research report on Thursday, January 15th. Robert W. Baird raised their price target on Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $650.67 on Thursday. The stock’s 50-day moving average is $556.48 and its 200 day moving average is $499.04. The stock has a market cap of $149.71 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 1.17 and a beta of 0.23. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $660.55. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.67 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.22%.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.