Arkadios Wealth Advisors Boosts Stake in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Arkadios Wealth Advisors significantly increased its holdings in Lockheed Martin by 63.6% in the first quarter, accumulating a total of 15,910 shares valued at $7,107,000.
• Lockheed Martin reported $7.29 earnings per share for the latest quarter, surpassing expectations, at the same time, revenue slightly dipped below analyst forecasts, suggesting a stable but cautious outlook.
• The company declared a quarterly dividend of $3.30, which translates to an annualized yield of 3.15%, indicating a strong commitment to shareholder returns.

Arkadios Wealth Advisors boosted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 63.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,910 shares of the aerospace company's stock after acquiring an additional 6,187 shares during the quarter. Arkadios Wealth Advisors' holdings in Lockheed Martin were worth $7,107,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC purchased a new position in Lockheed Martin during the 1st quarter valued at about $31,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at about $40,000. Banque Transatlantique SA purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $43,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin in the first quarter valued at $43,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $1.34 during mid-day trading on Wednesday, hitting $418.79. 1,630,155 shares of the stock were exchanged, compared to its average volume of 1,966,747. The stock's fifty day simple moving average is $462.63 and its two-hundred day simple moving average is $461.70. The stock has a market capitalization of $97.77 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.47 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95.

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 (EPS) for the quarter, topping 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 firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. The business's revenue was up .2% on a year-over-year basis. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid 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 3.15%. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LMT. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Royal Bank Of Canada reduced their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Wells Fargo & Company reduced their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Fifteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Company 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.