Golden State Wealth Management LLC Purchases 2,674 Shares of Lockheed Martin Corporation (NYSE:LMT)

Golden State Wealth Management LLC boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 97.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,412 shares of the aerospace company's stock after acquiring an additional 2,674 shares during the quarter. Golden State Wealth Management LLC's holdings in Lockheed Martin were worth $2,418,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mattern Capital Management LLC lifted its holdings in shares of Lockheed Martin by 4.0% in the first quarter. Mattern Capital Management LLC now owns 20,331 shares of the aerospace company's stock worth $9,082,000 after acquiring an additional 785 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at approximately $2,636,000. Archford Capital Strategies LLC increased its position in Lockheed Martin by 30.1% during the 1st quarter. Archford Capital Strategies LLC now owns 8,559 shares of the aerospace company's stock worth $3,823,000 after purchasing an additional 1,980 shares in the last quarter. Financial Enhancement Group LLC lifted its stake in Lockheed Martin by 16.1% in the 1st quarter. Financial Enhancement Group LLC now owns 511 shares of the aerospace company's stock valued at $236,000 after purchasing an additional 71 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. lifted its stake in Lockheed Martin by 3.9% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 48,900 shares of the aerospace company's stock valued at $21,844,000 after purchasing an additional 1,841 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Performance

NYSE:LMT opened at $460.63 on Wednesday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a 50 day simple moving average of $471.38 and a two-hundred day simple moving average of $467.58. The company has a market capitalization of $107.93 billion, a PE ratio of 19.90, a P/E/G ratio of 1.65 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating 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 company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio is 57.02%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.