Diversify Wealth Management LLC Purchases 1,342 Shares of Lockheed Martin Corporation (NYSE:LMT)

Diversify Wealth Management LLC lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 24.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,869 shares of the aerospace company's stock after purchasing an additional 1,342 shares during the period. Diversify Wealth Management LLC's holdings in Lockheed Martin were worth $3,269,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Stegent Equity Advisors Inc. lifted its position in shares of Lockheed Martin by 59.3% during the first quarter. Stegent Equity Advisors Inc. now owns 954 shares of the aerospace company's stock worth $426,000 after purchasing an additional 355 shares in the last quarter. Country Club Bank raised its stake in shares of Lockheed Martin by 2.8% during the first quarter. Country Club Bank now owns 4,446 shares of the aerospace company's stock worth $1,963,000 after buying an additional 119 shares during the last quarter. Croban bought a new stake in shares of Lockheed Martin during the first quarter worth approximately $699,000. Cerity Partners LLC raised its stake in shares of Lockheed Martin by 5.6% during the first quarter. Cerity Partners LLC now owns 156,183 shares of the aerospace company's stock worth $69,768,000 after buying an additional 8,308 shares during the last quarter. Finally, Telos Capital Management Inc. raised its stake in shares of Lockheed Martin by 2.0% during the first quarter. Telos Capital Management Inc. now owns 13,939 shares of the aerospace company's stock worth $6,227,000 after buying an additional 270 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.7%

Shares of NYSE:LMT traded up $3.17 during midday trading on Friday, reaching $467.48. 1,208,544 shares of the company were exchanged, compared to its average volume of 1,364,460. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week 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 stock has a fifty day simple moving average of $469.64 and a two-hundred day simple moving average of $465.15. The firm has a market cap of $109.53 billion, a PE ratio of 20.19, a P/E/G ratio of 1.63 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) 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 firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared 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 of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.82%. Lockheed Martin's dividend payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LMT. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. UBS Group boosted their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Truist Financial dropped their price target on shares of Lockheed Martin from $579.00 to $554.00 and set a "buy" rating for the company in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $531.47.

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.