Chemistry Wealth Management LLC Invests $329,000 in Lockheed Martin Co. (NYSE:LMT)

Chemistry Wealth Management LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 737 shares of the aerospace company's stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cranbrook Wealth Management LLC raised its holdings in shares of Lockheed Martin by 17.5% in the first quarter. Cranbrook Wealth Management LLC now owns 235 shares of the aerospace company's stock worth $105,000 after buying an additional 35 shares during the period. Pines Wealth Management LLC raised its holdings in shares of Lockheed Martin by 20.0% in the first quarter. Pines Wealth Management LLC now owns 2,324 shares of the aerospace company's stock worth $1,030,000 after buying an additional 388 shares during the period. Littlejohn Financial Services Inc. purchased a new stake in shares of Lockheed Martin in the first quarter worth approximately $1,992,000. Procyon Advisors LLC raised its holdings in shares of Lockheed Martin by 20.1% in the first quarter. Procyon Advisors LLC now owns 5,357 shares of the aerospace company's stock worth $2,295,000 after buying an additional 896 shares during the period. Finally, Davis Capital Management grew its stake in Lockheed Martin by 7.9% in the first quarter. Davis Capital Management now owns 1,958 shares of the aerospace company's stock worth $875,000 after purchasing an additional 144 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.7%

Lockheed Martin stock opened at $481.49 on Friday. 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 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 1-year low of $418.88 and a 1-year high of $618.95. The business has a fifty day moving average price of $467.56 and a 200-day moving average price of $472.45.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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 firm 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%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 57.02%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. UBS Group raised their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

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.

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