HB Wealth Management LLC Raises Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• HB Wealth Management LLC increased its holdings in Lockheed Martin by 10.6% in the 1st quarter, owning a total of 13,850 shares worth approximately $6.19 million.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding analyst expectations, but its revenue of $18.16 billion fell short of estimates.
• The company announced a quarterly dividend of $3.30 per share, representing an annualized yield of 3.13% with a payout ratio of 74.32%.

HB Wealth Management LLC raised its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,850 shares of the aerospace company's stock after buying an additional 1,325 shares during the quarter. HB Wealth Management LLC's holdings in Lockheed Martin were worth $6,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock valued at $2,374,557,000 after purchasing an additional 59,597 shares in the last quarter. Northern Trust Corp increased its position in Lockheed Martin by 6.3% during the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after buying an additional 134,662 shares in the last quarter. Invesco Ltd. increased its position in Lockheed Martin by 17.5% during the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after buying an additional 318,007 shares in the last quarter. GAMMA Investing LLC increased its position in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after buying an additional 1,986,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Lockheed Martin by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock valued at $619,369,000 after buying an additional 70,516 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $0.25 during midday trading on Wednesday, hitting $420.38. The company had a trading volume of 495,216 shares, compared to its average volume of 1,672,458. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The company has a market cap of $98.14 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.48 and a beta of 0.28. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a fifty day moving average of $463.66 and a two-hundred day moving average of $462.00.

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

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is 74.32%.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Vertical Research restated a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Robert W. Baird reduced their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Royal Bank Of Canada reduced their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin 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.