Bennett Associates Wealth Management Takes Position in Lockheed Martin Co. (NYSE:LMT)

Bennett Associates Wealth Management purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 960 shares of the aerospace company's stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors have also modified their holdings of LMT. LaFleur & Godfrey LLC increased its position in shares of Lockheed Martin by 18.0% during the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after purchasing an additional 176 shares in the last quarter. Eagle Capital Management LLC increased its holdings in shares of Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after buying an additional 32 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after buying an additional 191 shares during the last quarter. Hudson Portfolio Management LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $256,000. Finally, Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LMT shares. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Wells Fargo & Company lowered 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. Finally, Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Price Performance

LMT traded down $5.96 during trading on Thursday, hitting $476.25. 639,910 shares of the stock traded hands, compared to its average volume of 1,296,556. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a market cap of $111.58 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50 day moving average price of $466.28 and a 200 day moving average price of $473.17.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share 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. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.77%. Lockheed Martin's payout ratio is 57.02%.

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.