PTM Wealth Management LLC Makes New $377,000 Investment in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• PTM Wealth Management LLC acquired 850 shares of Lockheed Martin Corporation, valued at approximately $377,000, representing around 0.4% of its portfolio and making it the 27th largest holding.
• Recent analyst ratings for Lockheed Martin show a mixed outlook, with target prices decreased by Jefferies Financial Group and JPMorgan Chase, while Morgan Stanley upgraded the stock to "overweight" with a target of $575.00.
• The company reported $7.29 earnings per share for the last quarter, surpassing analysts' expectations and contributing to a modest revenue increase of 0.2% year-over-year.

PTM Wealth Management LLC purchased a new stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 850 shares of the aerospace company's stock, valued at approximately $377,000. Lockheed Martin makes up about 0.4% of PTM Wealth Management LLC's portfolio, making the stock its 27th largest position.

Several other large investors have also recently added to or reduced their stakes in the company. 49 Wealth Management LLC raised its holdings in shares of Lockheed Martin by 3.4% in the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after buying an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. raised its holdings in shares of Lockheed Martin by 2.5% in the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after buying an additional 22 shares in the last quarter. Private Portfolio Partners LLC raised its holdings in shares of Lockheed Martin by 4.8% in the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock worth $244,000 after buying an additional 23 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in shares of Lockheed Martin by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after buying an additional 23 shares in the last quarter. Finally, Southland Equity Partners LLC raised its holdings in shares of Lockheed Martin by 3.1% in the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.0%

Shares of NYSE:LMT traded up $0.08 during midday trading on Monday, hitting $421.25. The company had a trading volume of 2,421,836 shares, compared to its average volume of 1,846,541. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock has a market cap of $98.35 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.48 and a beta of 0.28. The firm has a fifty day simple moving average of $464.77 and a 200 day simple moving average of $462.30.

Lockheed Martin (NYSE:LMT - Get Free Report) 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 return on equity of 107.60% and a net margin of 5.85%. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period last year, the company earned $7.11 EPS. The firm's revenue was up .2% on a year-over-year basis. On average, analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.13%. Lockheed Martin's dividend payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LMT. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, TD Cowen reaffirmed a "hold" rating and set a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Fifteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus price target of $506.65.

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.