Ironwood Investment Counsel LLC Purchases 931 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Ironwood Investment Counsel LLC boosted its position in Lockheed Martin by 6.5%, acquiring an additional 931 shares and increasing its total holdings to 15,311 shares valued at $6,840,000.
• Lockheed Martin reported earnings of $7.29 per share, surpassing analysts' expectations of $6.57, with quarterly revenue of $18.16 billion, slightly below estimates.
• The company announced a quarterly dividend of $3.30, which reflects an annualized dividend yield of 3.0% and a payout ratio of 74.32%.

Ironwood Investment Counsel LLC boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,311 shares of the aerospace company's stock after purchasing an additional 931 shares during the quarter. Lockheed Martin makes up 1.2% of Ironwood Investment Counsel LLC's portfolio, making the stock its 19th biggest position. Ironwood Investment Counsel LLC's holdings in Lockheed Martin were worth $6,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after acquiring an additional 1,986,600 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Lockheed Martin in the fourth quarter worth about $526,587,000. Leigh Baldwin & CO. LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $451,985,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $229,987,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Price Performance

NYSE LMT opened at $434.69 on Thursday. The stock has a market capitalization of $101.48 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.50 and a beta of 0.27. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The business's fifty day moving average price is $458.10 and its 200-day moving average price is $459.64.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the prior year, the business earned $7.11 earnings per share. Lockheed Martin's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts predict 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, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.0%. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Wall Street Analyst Weigh In

LMT has been the subject of a number of analyst reports. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Jefferies Financial Group cut their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Robert W. Baird lowered their price target on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley upgraded 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 note on Wednesday, April 16th. Finally, TD Cowen restated a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Fifteen 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, the company currently has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin 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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