Kingswood Wealth Advisors LLC lifted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 123.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,366 shares of the aerospace company's stock after acquiring an additional 12,343 shares during the period. Kingswood Wealth Advisors LLC's holdings in Lockheed Martin were worth $10,021,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Cornerstone Wealth Management LLC raised its holdings in Lockheed Martin by 28.5% during the 1st quarter. Cornerstone Wealth Management LLC now owns 3,687 shares of the aerospace company's stock worth $1,647,000 after buying an additional 817 shares during the period. Clarius Group LLC raised its holdings in Lockheed Martin by 8.2% during the 1st quarter. Clarius Group LLC now owns 1,896 shares of the aerospace company's stock worth $847,000 after buying an additional 144 shares during the period. Boomfish Wealth Group LLC raised its holdings in Lockheed Martin by 5.5% during the 1st quarter. Boomfish Wealth Group LLC now owns 5,221 shares of the aerospace company's stock worth $2,332,000 after buying an additional 273 shares during the period. Wendell David Associates Inc. raised its holdings in Lockheed Martin by 3.0% during the 1st quarter. Wendell David Associates Inc. now owns 7,371 shares of the aerospace company's stock worth $3,293,000 after buying an additional 218 shares during the period. Finally, Bell Bank raised its holdings in Lockheed Martin by 6.5% during the 1st quarter. Bell Bank now owns 1,181 shares of the aerospace company's stock worth $528,000 after buying an additional 72 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin Stock Down 2.3%
Shares of NYSE:LMT traded down $11.07 during midday trading on Thursday, hitting $468.27. The stock had a trading volume of 1,865,340 shares, compared to its average volume of 1,341,252. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95. 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 business's 50-day simple moving average is $471.73 and its 200-day simple moving average is $468.91. The company has a market cap of $109.72 billion, a P/E ratio of 20.23, a PEG ratio of 1.63 and a beta of 0.29.
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 for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The business had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.
Lockheed Martin Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.82%. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.
Wall Street Analyst Weigh In
Several analysts have commented on LMT shares. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a 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 stock a "neutral" rating in a report on Wednesday, April 23rd. Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Bank of America cut 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 note on Monday, March 24th. Finally, Morgan Stanley raised 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 note on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.
Check Out Our Latest Research Report on LMT
About Lockheed Martin
(
Free Report)
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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