Financial Gravity Asset Management Inc. Purchases New Shares in Lockheed Martin Corporation (NYSE:LMT)

Financial Gravity Asset Management Inc. acquired a new stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 924 shares of the aerospace company's stock, valued at approximately $413,000.

Several other hedge funds have also recently made changes to their positions in LMT. Geode Capital Management LLC increased its holdings in Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock valued at $2,374,557,000 after buying an additional 59,597 shares during the last quarter. Northern Trust Corp increased its holdings in Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after buying an additional 134,662 shares during the last quarter. Invesco Ltd. increased its holdings in Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after buying an additional 318,007 shares during the last quarter. GAMMA Investing LLC increased its holdings in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Lockheed Martin by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock valued at $619,369,000 after buying an additional 70,516 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial reduced their target price on shares of Lockheed Martin from $579.00 to $554.00 and set a "buy" rating for the company in a report on Friday. TD Cowen reaffirmed a "hold" rating and set a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a report on Thursday. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $531.47.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded up $3.14 during midday trading on Friday, reaching $467.45. 750,290 shares of the company were exchanged, compared to its average volume of 1,361,917. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The business's fifty day moving average is $469.64 and its two-hundred day moving average is $465.15. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95. The stock has a market cap of $109.52 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.61 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its 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 net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. As a group, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 2.82%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 57.02%.

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.