Banque Pictet & Cie SA Acquires Shares of 679 Lockheed Martin Corporation (NYSE:LMT)

Banque Pictet & Cie SA acquired a new stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 679 shares of the aerospace company's stock, valued at approximately $303,000.

A number of other large investors also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $35,000. Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.7%

LMT stock traded up $3.17 during trading on Friday, reaching $467.48. 1,208,544 shares of the stock traded hands, compared to its average volume of 1,364,460. The business's 50 day moving average price is $469.64 and its 200-day moving average price is $465.15. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The firm has a market capitalization of $109.53 billion, a PE ratio of 20.19, a P/E/G ratio of 1.63 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. 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 report on Wednesday, April 16th. Royal Bank Of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Truist Financial reduced their price objective on Lockheed Martin from $579.00 to $554.00 and set a "buy" rating for the company in a report on Friday. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, UBS Group boosted their price target on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $531.47.

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.