Lake Street Advisors Group LLC Buys New Shares in Lockheed Martin Co. (NYSE:LMT)

Lake Street Advisors Group LLC bought a new stake in Lockheed Martin Co. (NYSE:LMTFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,279 shares of the aerospace company’s stock, valued at approximately $580,000.

Other hedge funds have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC lifted its stake in Lockheed Martin by 132.9% in the third quarter. WealthPlan Investment Management LLC now owns 10,230 shares of the aerospace company’s stock valued at $4,184,000 after acquiring an additional 5,838 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Lockheed Martin by 9.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 1,883 shares of the aerospace company’s stock valued at $770,000 after acquiring an additional 158 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Lockheed Martin by 7.6% in the third quarter. Atria Wealth Solutions Inc. now owns 32,896 shares of the aerospace company’s stock valued at $13,453,000 after acquiring an additional 2,330 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Lockheed Martin by 0.5% in the third quarter. Janney Montgomery Scott LLC now owns 138,562 shares of the aerospace company’s stock valued at $56,667,000 after acquiring an additional 625 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Lockheed Martin by 5.7% in the third quarter. Gamco Investors INC. ET AL now owns 1,878 shares of the aerospace company’s stock valued at $768,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock traded down $2.87 during midday trading on Wednesday, hitting $466.02. The company’s stock had a trading volume of 289,920 shares, compared to its average volume of 1,081,179. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The company has a 50-day moving average price of $460.95 and a two-hundred day moving average price of $448.31. The company has a market cap of $111.82 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 4.40 and a beta of 0.47.

Lockheed Martin (NYSE:LMTGet Free Report) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same period last year, the firm earned $6.43 EPS. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.17 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s payout ratio is 46.10%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LMT. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Citigroup raised their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, UBS Group raised their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $485.40.

Read Our Latest Research Report on Lockheed Martin

Lockheed Martin Profile

(Free Report)

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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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