Altfest L J & Co. Inc. Raises Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Altfest L J & Co. Inc. increased its stake in Lockheed Martin Corporation by 86.0%, holding 4,216 shares worth approximately $1.88 million as of the latest SEC filing.
• Analysts have downgraded Lockheed Martin's stock, with target prices now ranging from $440.00 to $500.00, resulting in a consensus rating of "Hold".
• The company recently announced a quarterly dividend of $3.30 per share, indicating a 3.1% dividend yield with a payout ratio of 74.32%.

Altfest L J & Co. Inc. boosted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 86.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,216 shares of the aerospace company's stock after acquiring an additional 1,949 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Lockheed Martin were worth $1,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in Lockheed Martin during the 1st quarter worth approximately $31,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth about $40,000. Banque Transatlantique SA acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $43,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the 1st quarter valued at $43,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

LMT stock traded down $5.07 during trading on Friday, reaching $425.68. 1,477,499 shares of the company were exchanged, compared to its average volume of 2,270,781. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The stock's 50 day moving average price is $457.25 and its 200 day moving average price is $459.23. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The company has a market cap of $99.38 billion, a P/E ratio of 23.97, a PEG ratio of 1.51 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last released 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 business had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.11 EPS. As a group, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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 given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. Lockheed Martin's payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LMT. Royal Bank Of Canada dropped their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price objective for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. UBS Group lowered their target price on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Hold" and an average target price 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.