Cornerstone Wealth Management LLC increased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 28.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,687 shares of the aerospace company's stock after buying an additional 817 shares during the quarter. Cornerstone Wealth Management LLC's holdings in Lockheed Martin were worth $1,647,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.19% of the company's stock.
Lockheed Martin Trading Down 2.3%
Shares of LMT opened at $468.27 on Thursday. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The firm has a market capitalization of $109.72 billion, a P/E ratio of 20.23, a PEG ratio of 1.67 and a beta of 0.29. The firm's 50-day moving average is $471.66 and its two-hundred day moving average is $469.27.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. On average, research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.
Lockheed Martin Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on LMT shares. Royal Bank Of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. Finally, Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.
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About Lockheed Martin
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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.
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