Keynote Financial Services LLC Raises Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Keynote Financial Services LLC increased its stake in Lockheed Martin by 39.9% in Q1, owning 2,184 shares valued at approximately $976,000.
• Lockheed Martin is set to pay a quarterly dividend of $3.30 on September 26, translating to an annual yield of 3.0% based on current share prices.
• Recent earnings showed Lockheed Martin reported $7.29 EPS, surpassing analysts' expectations, while revenue reached $18.16 billion for the quarter, slightly below estimates.

Keynote Financial Services LLC lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 39.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,184 shares of the aerospace company's stock after buying an additional 623 shares during the period. Keynote Financial Services LLC's holdings in Lockheed Martin were worth $976,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 7.5% during the 1st 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 acquiring an additional 560,457 shares during the period. Northern Trust Corp lifted its position in shares of Lockheed Martin by 6.3% during the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after acquiring an additional 134,662 shares during the period. GAMMA Investing LLC lifted its position in shares of Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after acquiring an additional 1,986,600 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Lockheed Martin by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock valued at $619,369,000 after acquiring an additional 70,516 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Lockheed Martin by 0.8% during the 4th quarter. Stifel Financial Corp now owns 1,221,014 shares of the aerospace company's stock valued at $593,429,000 after acquiring an additional 9,198 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT opened at $434.69 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The firm 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. The firm's fifty day simple moving average is $458.10 and its 200 day simple moving average is $459.64. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the previous year, the business posted $7.11 EPS. The firm's revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 3.0%. Lockheed Martin's payout ratio is currently 74.32%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research reports. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target for the company in a research report on Wednesday, April 16th. Robert W. Baird reduced their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Royal Bank Of Canada reduced their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Finally, Susquehanna reduced their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of "Hold" and a consensus price target of $506.65.

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.

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