Lockheed Martin Corporation (NYSE:LMT) Shares Bought by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC increased its stake in Lockheed Martin by 47.8%, acquiring an additional 8,726 shares and raising its total holdings to 27,000 shares valued at over $12 million.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding estimates by $0.72, with revenue of $18.16 billion, slightly below expectations.
• The company declared a quarterly dividend of $3.30 per share, representing an annual yield of 3.1%, with a dividend payout ratio of 74.32%.

Empower Advisory Group LLC lifted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 47.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,000 shares of the aerospace company's stock after acquiring an additional 8,726 shares during the quarter. Empower Advisory Group LLC's holdings in Lockheed Martin were worth $12,061,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LMT. PTM Wealth Management LLC purchased a new position in shares of Lockheed Martin in the 1st quarter worth approximately $377,000. First American Bank grew its holdings in Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after purchasing an additional 1,327 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Lockheed Martin in the fourth quarter worth $33,294,000. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in Lockheed Martin by 18.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after purchasing an additional 2,686 shares during the last quarter. Finally, State of Wyoming increased its position in shares of Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after purchasing an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $3.74 on Thursday, hitting $431.11. The company had a trading volume of 1,489,595 shares, compared to its average volume of 2,259,029. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. 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 firm has a market cap of $100.65 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.27. The company has a 50-day moving average price of $457.25 and a 200-day moving average price of $459.23.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.11 EPS. As a group, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. Lockheed Martin's dividend payout ratio is 74.32%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. TD Cowen reissued a "hold" rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of 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, UBS Group cut their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin 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.