Wealthspire Advisors LLC Has $3.38 Million Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Wealthspire Advisors LLC increased its stake in Lockheed Martin by 155.4% during Q1, now holding shares valued at approximately $3.38 million.
• Lockheed Martin's stock reported an earnings per share (EPS) of $7.29 for the last quarter, exceeding analysts' expectations by $0.72.
• The company recently announced a quarterly dividend of $3.30, with an annualized yield of 3.1%.

Wealthspire Advisors LLC raised its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 155.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,562 shares of the aerospace company's stock after buying an additional 4,601 shares during the period. Wealthspire Advisors LLC's holdings in Lockheed Martin were worth $3,378,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TruNorth Capital Management LLC acquired a new position in Lockheed Martin in the 1st quarter worth approximately $31,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $40,000. Banque Transatlantique SA purchased a new position in shares of Lockheed Martin during the fourth quarter valued at $43,000. Finally, EQ Wealth Advisors LLC acquired a new position in Lockheed Martin during the first quarter valued at $43,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $3.74 during trading on Thursday, reaching $431.11. The stock had a trading volume of 1,489,595 shares, compared to its average volume of 2,259,029. The stock has a market capitalization of $100.65 billion, a PE ratio of 24.27, a P/E/G ratio of 1.52 and a beta of 0.27. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The business's 50-day moving average price is $457.25 and its 200 day moving average price is $459.23. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

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

Lockheed Martin Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on LMT shares. Jefferies Financial Group decreased their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Vertical Research reiterated a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, UBS Group dropped their target price on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.