Viking Fund Management LLC Acquires 3,000 Shares of Lockheed Martin Co. (NYSE:LMT)

Viking Fund Management LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,000 shares of the aerospace company's stock after buying an additional 3,000 shares during the quarter. Viking Fund Management LLC's holdings in Lockheed Martin were worth $6,701,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LaFleur & Godfrey LLC raised its holdings in Lockheed Martin by 18.0% during the 4th quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after buying an additional 176 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after acquiring an additional 32 shares during the period. Brighton Jones LLC boosted its stake in Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares during the period. Hudson Portfolio Management LLC acquired a new stake in Lockheed Martin during the 4th quarter valued at $256,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $35,000. Institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. 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 report on Wednesday, April 16th. UBS Group lifted their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Finally, Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Down 1.0%

Shares of NYSE:LMT traded down $4.64 on Thursday, reaching $477.57. The company had a trading volume of 1,062,550 shares, compared to its average volume of 1,577,408. The stock has a market capitalization of $111.89 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.07 and a beta of 0.29. The stock has a 50-day moving average price of $466.28 and a 200 day moving average price of $473.17. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $3.30 dividend. 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 2.76%. Lockheed Martin's payout ratio is presently 57.02%.

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.