Lockheed Martin Corporation (NYSE:LMT) Stock Position Raised by Concord Wealth Partners

Concord Wealth Partners boosted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,373 shares of the aerospace company's stock after purchasing an additional 2,123 shares during the quarter. Concord Wealth Partners' holdings in Lockheed Martin were worth $3,740,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Mechanics Financial Corp increased its holdings in Lockheed Martin by 27.5% during the 1st quarter. Mechanics Financial Corp now owns 1,673 shares of the aerospace company's stock worth $747,000 after purchasing an additional 361 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Lockheed Martin by 1.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 30,816 shares of the aerospace company's stock worth $13,766,000 after acquiring an additional 421 shares in the last quarter. Parcion Private Wealth LLC raised its position in shares of Lockheed Martin by 9.8% during the 1st quarter. Parcion Private Wealth LLC now owns 2,874 shares of the aerospace company's stock worth $1,284,000 after acquiring an additional 257 shares in the last quarter. Victory Capital Management Inc. grew its stake in Lockheed Martin by 12.1% during the 1st quarter. Victory Capital Management Inc. now owns 320,402 shares of the aerospace company's stock worth $143,127,000 after buying an additional 34,587 shares during the last quarter. Finally, Bridgewater Advisors Inc. acquired a new position in Lockheed Martin during the first quarter worth approximately $775,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Down 0.4%

NYSE LMT traded down $1.87 on Thursday, hitting $469.60. 925,459 shares of the stock traded hands, compared to its average volume of 1,369,127. The stock has a 50-day moving average of $469.66 and a 200 day moving average of $464.66. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a market capitalization of $110.03 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.65 and a beta of 0.28. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results 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. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. As a group, analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

Several research firms have commented on LMT. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group decreased their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Finally, Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $532.69.

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.