Lockheed Martin Corporation (NYSE:LMT) Shares Purchased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC grew its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,726 shares of the aerospace company's stock after purchasing an additional 2,426 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Lockheed Martin were worth $12,217,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund increased its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $33,294,000. Private Advisor Group LLC raised its stake in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after acquiring an additional 5,075 shares in the last quarter. State of Wyoming boosted its stake in shares of Lockheed Martin by 93.9% in the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after buying an additional 539 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in Lockheed Martin by 3.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock worth $49,893,000 after acquiring an additional 3,809 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LMT. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target for the company in a report on Wednesday, April 16th. Finally, Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Trading Down 2.3%

Shares of Lockheed Martin stock traded down $11.07 during trading hours on Wednesday, reaching $468.27. 1,857,802 shares of the company's stock were exchanged, compared to its average volume of 1,338,489. The company has a fifty day moving average of $471.55 and a 200-day moving average of $469.28. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The firm has a market capitalization of $109.72 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29. 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. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) 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.