FourThought Financial Partners LLC Increases Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• FourThought Financial Partners LLC increased its stake in Lockheed Martin Corporation by 3.1% and now holds 31,204 shares valued at approximately $13.94 million, making it the firm's 18th largest investment.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding expectations, with a revenue of $18.16 billion, slightly below analyst estimates.
• The company plans to pay a quarterly dividend of $3.30 per share on September 26th, contributing to an annualized yield of 3.13%.

FourThought Financial Partners LLC boosted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,204 shares of the aerospace company's stock after buying an additional 924 shares during the quarter. Lockheed Martin accounts for about 1.5% of FourThought Financial Partners LLC's holdings, making the stock its 18th biggest holding. FourThought Financial Partners LLC's holdings in Lockheed Martin were worth $13,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in Lockheed Martin during the first quarter worth about $31,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth about $40,000. Banque Transatlantique SA acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $43,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth about $43,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $421.60 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The firm's 50 day moving average is $465.80 and its two-hundred day moving average is $462.71. The firm has a market capitalization of $98.43 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.45 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter last year, the company earned $7.11 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 3.13%. Lockheed Martin's payout ratio is currently 74.32%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. TD Cowen reissued a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Robert W. Baird reduced their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday. Royal Bank Of Canada reduced their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Finally, Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Company 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.

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