Financial Gravity Asset Management Inc. Makes New $413,000 Investment in Lockheed Martin Corporation (NYSE:LMT)

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

Several other large investors have also made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in shares of Lockheed Martin by 2.7% in the 1st quarter. Alps Advisors Inc. now owns 71,104 shares of the aerospace company's stock valued at $31,763,000 after acquiring an additional 1,896 shares during the last quarter. Parr Mcknight Wealth Management Group LLC boosted its holdings in Lockheed Martin by 2.4% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 2,575 shares of the aerospace company's stock worth $1,150,000 after buying an additional 60 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in Lockheed Martin by 1.1% during the first quarter. Bridges Investment Management Inc. now owns 39,002 shares of the aerospace company's stock worth $17,423,000 after buying an additional 426 shares in the last quarter. Moloney Securities Asset Management LLC boosted its holdings in Lockheed Martin by 2.9% during the first quarter. Moloney Securities Asset Management LLC now owns 6,738 shares of the aerospace company's stock worth $3,010,000 after buying an additional 193 shares in the last quarter. Finally, Banque Pictet & Cie SA purchased a new stake in Lockheed Martin during the first quarter worth $303,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 0.3%

Lockheed Martin stock traded up $1.50 during midday trading on Thursday, hitting $464.56. 1,253,163 shares of the stock were exchanged, compared to its average volume of 1,364,155. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The stock has a market capitalization of $108.85 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.61 and a beta of 0.28. The stock's 50-day simple moving average is $469.92 and its 200 day simple moving average is $465.30. 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 released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $17.83 billion. On average, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.84%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMT. Jefferies Financial Group lowered their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. 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 report on Tuesday, April 8th. Bank of America cut shares of 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 research report on Monday, March 24th. Finally, Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $533.13.

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.