IFP Advisors Inc Boosts Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

IFP Advisors Inc grew its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 28.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,295 shares of the aerospace company's stock after acquiring an additional 2,501 shares during the quarter. IFP Advisors Inc's holdings in Lockheed Martin were worth $5,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. 49 Wealth Management LLC increased its position in Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after buying an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. increased its holdings in shares of Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 22 shares during the period. Private Portfolio Partners LLC boosted its stake in shares of Lockheed Martin by 4.8% in the fourth quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock worth $244,000 after buying an additional 23 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in shares of Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after buying an additional 23 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its stake in shares of Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after buying an additional 23 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the topic of a number of recent analyst reports. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group decreased their target price 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. UBS Group increased their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Truist Financial set a $554.00 target price on Lockheed Martin and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of "Hold" and a consensus price target of $532.69.

Lockheed Martin Trading Down 1.1%

NYSE:LMT opened at $464.14 on Monday. The firm has a market cap of $108.75 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28. The stock 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. 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 earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 104.09% and a net margin of 7.66%. Sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.84%. 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.

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.