ABC Arbitrage SA Takes $1.48 Million Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• ABC Arbitrage SA has acquired a new position in Lockheed Martin, purchasing 3,321 shares valued at approximately $1.48 million during the first quarter of the year.
• In recent analyst ratings, Morgan Stanley upgraded Lockheed Martin to an "overweight" rating with a target price of $575, while other firms like Wells Fargo and Cowen lowered their target prices.
• Lockheed Martin announced a quarterly dividend of $3.30, translating to an annual yield of 3.1%, with a dividend payout ratio of 74.32%.

ABC Arbitrage SA bought a new position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,321 shares of the aerospace company's stock, valued at approximately $1,484,000.

Several other hedge funds also recently made changes to their positions in the business. LCM Capital Management Inc lifted its stake in Lockheed Martin by 1.8% during the first quarter. LCM Capital Management Inc now owns 3,857 shares of the aerospace company's stock valued at $1,723,000 after buying an additional 68 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Lockheed Martin during the first quarter valued at $231,000. Cary Street Partners Investment Advisory LLC increased its holdings in Lockheed Martin by 16.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 521 shares of the aerospace company's stock worth $233,000 after buying an additional 72 shares during the last quarter. Empower Advisory Group LLC raised its position in Lockheed Martin by 47.8% during the first quarter. Empower Advisory Group LLC now owns 27,000 shares of the aerospace company's stock valued at $12,061,000 after acquiring an additional 8,726 shares in the last quarter. Finally, Costello Asset Management INC lifted its stake in Lockheed Martin by 51.7% in the first quarter. Costello Asset Management INC now owns 182 shares of the aerospace company's stock valued at $81,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a research report on Wednesday, April 16th. Wells Fargo & Company cut their target price 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. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, TD Cowen reaffirmed a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Stock Performance

NYSE:LMT opened at $423.90 on Tuesday. The firm has a market capitalization of $98.96 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The stock's 50-day simple moving average is $459.77 and its 200 day simple moving average is $460.03. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $7.11 earnings per share. On average, analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed 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. This represents a $13.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is presently 74.32%.

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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