Lockheed Martin Corporation (NYSE:LMT) Shares Acquired by Beacon Bridge Wealth Partners LLC

Key Points

• Beacon Bridge Wealth Partners LLC increased its stake in Lockheed Martin by 80.2% during the first quarter, owning over 3,254 shares valued at approximately $1.45 million.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding estimates by $0.72, and had a year-over-year revenue increase of 0.2% despite slightly missing consensus expectations.
• The company recently announced a quarterly dividend of $3.30 per share, representing a 3.13% yield, with an upcoming payment date of September 26th.

Beacon Bridge Wealth Partners LLC grew its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 80.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,254 shares of the aerospace company's stock after acquiring an additional 1,448 shares during the period. Beacon Bridge Wealth Partners LLC's holdings in Lockheed Martin were worth $1,454,000 at the end of the most recent quarter.

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

Lockheed Martin Stock Up 0.2%

Lockheed Martin stock opened at $421.60 on Monday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The firm has a 50 day moving average price of $465.80 and a 200 day moving average price of $462.62. The company has a market capitalization of $98.43 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating 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 firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the firm earned $7.11 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LMT shares. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target for the company in a research report on Wednesday, April 16th. UBS Group dropped their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Vertical Research reaffirmed a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $506.65.

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.

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