Chemistry Wealth Management LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Chemistry Wealth Management LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the first quarter, HoldingsChannel reports. The fund purchased 737 shares of the aerospace company’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research note on Wednesday, April 16th. UBS Group lifted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Performance

NYSE LMT opened at $481.49 on Friday. The stock has a market capitalization of $112.81 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a 50-day moving average of $467.56 and a 200 day moving average of $472.45.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.74%. Lockheed Martin’s payout ratio is currently 57.02%.

About Lockheed Martin

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.