Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Stake in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Empirical Financial Services LLC increased its holdings in Lockheed Martin by 490.1%, now owning 11,696 shares valued at approximately $5.2 million.
• Wall Street analysts have mixed views on Lockheed Martin, with an average price target of $506.65 and 15 analysts rating it as a hold.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, reflecting a 3.1% yield, with the payment date set for September 26th.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 490.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,696 shares of the aerospace company's stock after buying an additional 9,714 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Lockheed Martin were worth $5,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC increased its position in Lockheed Martin by 1.9% during the first quarter. Sound View Wealth Advisors Group LLC now owns 3,673 shares of the aerospace company's stock worth $1,641,000 after purchasing an additional 70 shares during the last quarter. Cordatus Wealth Management LLC increased its position in shares of Lockheed Martin by 0.6% during the first quarter. Cordatus Wealth Management LLC now owns 4,492 shares of the aerospace company's stock valued at $2,006,000 after acquiring an additional 26 shares during the last quarter. Torray Investment Partners LLC increased its position in shares of Lockheed Martin by 15.8% during the first quarter. Torray Investment Partners LLC now owns 9,299 shares of the aerospace company's stock valued at $4,154,000 after acquiring an additional 1,271 shares during the last quarter. Davis R M Inc. increased its position in shares of Lockheed Martin by 10.1% during the first quarter. Davis R M Inc. now owns 1,174 shares of the aerospace company's stock valued at $524,000 after acquiring an additional 108 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Lockheed Martin by 16.8% during the first quarter. Natixis Advisors LLC now owns 113,440 shares of the aerospace company's stock valued at $50,675,000 after acquiring an additional 16,297 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Robert W. Baird dropped their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Vertical Research restated a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Stock Performance

LMT stock traded up $1.07 on Monday, hitting $422.08. The company's stock had a trading volume of 973,436 shares, compared to its average volume of 1,681,143. The firm has a 50 day moving average of $460.68 and a two-hundred day moving average of $460.50. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The stock has a market cap of $98.54 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 3.1%. Lockheed Martin's dividend payout ratio is presently 74.32%.

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.