Lifeworks Advisors LLC Grows Position in Lockheed Martin Corporation (NYSE:LMT)

Lifeworks Advisors LLC boosted its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 134.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,118 shares of the aerospace company's stock after purchasing an additional 642 shares during the period. Lifeworks Advisors LLC's holdings in Lockheed Martin were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC bought a new position in Lockheed Martin during the first quarter worth $31,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at about $40,000. Banque Transatlantique SA acquired a new position in Lockheed Martin in the fourth quarter valued at about $43,000. Finally, EQ Wealth Advisors LLC acquired a new position in Lockheed Martin in the first quarter valued at about $43,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Up 0.2%

Lockheed Martin stock traded up $1.05 during trading on Friday, hitting $421.60. 2,458,783 shares of the company were exchanged, compared to its average volume of 1,823,272. The business's 50 day moving average is $465.80 and its 200 day moving average is $462.71. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a market capitalization of $98.43 billion, a P/E ratio of 23.74, a PEG ratio of 1.45 and a beta of 0.28. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.11 EPS. Analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.13%. Lockheed Martin's payout ratio is 74.32%.

Analysts Set New Price Targets

LMT has been the subject of several research analyst reports. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and lowered their target price for the stock from $554.00 to $440.00 in a research note on Wednesday. Vertical Research reissued a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday. Royal Bank Of Canada lowered their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.