Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 20.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,357 shares of the aerospace company’s stock after acquiring an additional 896 shares during the quarter. Procyon Advisors LLC’s holdings in Lockheed Martin were worth $2,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased 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 in the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin during the 4th quarter worth approximately $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LMT shares. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Trading Up 0.7%

Shares of Lockheed Martin stock opened at $481.49 on Friday. The company has a 50-day moving average of $467.56 and a two-hundred day moving average of $472.45. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-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 market cap of $112.81 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

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

Lockheed Martin Announces Dividend

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

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.