Davis Investment Partners LLC Acquires New Position in Lockheed Martin Co. (NYSE:LMT)

Davis Investment Partners LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,145 shares of the aerospace company's stock, valued at approximately $544,000.

A number of other large investors have also made changes to their positions in the company. Millstone Evans Group LLC bought a new position in Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the 4th quarter worth about $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $42,000. Institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LMT shares. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Wells Fargo & Company reduced 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 note on Tuesday, April 8th. Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Finally, Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and cut their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Performance

LMT stock traded up $12.36 during mid-day trading on Thursday, hitting $468.96. 1,698,888 shares of the company were exchanged, compared to its average volume of 1,314,108. The business has a 50 day simple moving average of $469.07 and a 200-day simple moving average of $471.03. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $109.88 billion, a PE ratio of 21.07, a price-to-earnings-growth 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.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. On average, equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's dividend payout ratio is presently 57.02%.

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.