IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Lockheed Martin by 15.6% in the first quarter, now owning 12,500 shares valued at approximately $5.58 million.
• Several institutions are showing increased interest, with 74.19% of Lockheed Martin's stock owned by hedge funds and institutional investors.
• Lockheed Martin recently declared a quarterly dividend of $3.30 per share, with an annualized yield of 3.1%.

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the aerospace company's stock after purchasing an additional 1,690 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Lockheed Martin were worth $5,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. PTM Wealth Management LLC purchased a new position in shares of Lockheed Martin during the first quarter worth $377,000. First American Bank raised its holdings in shares of Lockheed Martin by 18.8% during the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after purchasing an additional 1,327 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth $33,294,000. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Lockheed Martin by 18.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after purchasing an additional 2,686 shares during the last quarter. Finally, State of Wyoming grew its position in Lockheed Martin by 93.9% during the fourth 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. Hedge funds and other institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LMT. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada dropped 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, July 23rd. Wall Street Zen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Stock Down 0.0%

Shares of NYSE LMT opened at $420.97 on Monday. The company's 50-day simple moving average is $460.68 and its 200-day simple moving average is $460.50. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The firm has a market cap of $98.28 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $7.11 earnings per share. Equities analysts predict 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, September 26th. Investors of record on Tuesday, September 2nd will be given 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 3.1%. Lockheed Martin's payout ratio is presently 74.32%.

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.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

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.