Gries Financial LLC Grows Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Gries Financial LLC boosted its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 419.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,857 shares of the aerospace company's stock after buying an additional 3,114 shares during the period. Gries Financial LLC's holdings in Lockheed Martin were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LMT. Crestwood Advisors Group LLC grew its position in Lockheed Martin by 1.6% in the first quarter. Crestwood Advisors Group LLC now owns 4,837 shares of the aerospace company's stock worth $2,161,000 after acquiring an additional 75 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Lockheed Martin by 0.7% in the first quarter. Hazlett Burt & Watson Inc. now owns 5,806 shares of the aerospace company's stock worth $2,595,000 after purchasing an additional 43 shares during the period. Kingsman Wealth Management Inc. purchased a new stake in Lockheed Martin in the first quarter worth about $245,000. Wealth Dimensions Group Ltd. grew its holdings in Lockheed Martin by 11.5% in the first quarter. Wealth Dimensions Group Ltd. now owns 1,463 shares of the aerospace company's stock worth $653,000 after purchasing an additional 151 shares during the period. Finally, Wealth Quarterback LLC raised its position in Lockheed Martin by 45.3% in the first quarter. Wealth Quarterback LLC now owns 3,659 shares of the aerospace company's stock worth $1,634,000 after acquiring an additional 1,141 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent research reports. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Jefferies Financial Group reduced their target price 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. Finally, Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and an average price target of $532.69.

Lockheed Martin Stock Down 0.5%

Shares of NYSE LMT traded down $2.29 during trading hours on Monday, hitting $461.67. 1,573,202 shares of the stock were exchanged, compared to its average volume of 1,375,338. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The company has a market cap of $108.17 billion, a PE ratio of 16.05, a PEG ratio of 1.63 and a beta of 0.28. The firm has a fifty day moving average price of $469.37 and a 200-day moving average price of $464.14. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95.

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, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. On average, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 2.86%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is presently 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.