Easterly Investment Partners LLC lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 47.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,810 shares of the aerospace company's stock after purchasing an additional 900 shares during the period. Easterly Investment Partners LLC's holdings in Lockheed Martin were worth $1,255,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. First American Bank raised its stake in Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after buying an additional 1,327 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Lockheed Martin in the fourth quarter worth about $33,294,000. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Lockheed Martin by 18.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after purchasing an additional 2,686 shares in the last quarter. State of Wyoming increased its stake in shares of Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after purchasing an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock valued at $49,893,000 after purchasing an additional 3,809 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on LMT shares. TD Cowen reaffirmed a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. Robert W. Baird raised 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. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Jefferies Financial Group decreased their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $532.69.
View Our Latest Report on Lockheed Martin
Lockheed Martin Stock Performance
LMT stock traded down $5.06 on Friday, hitting $464.14. The company had a trading volume of 1,843,659 shares, compared to its average volume of 1,372,584. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-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 stock's 50-day simple moving average is $469.56 and its 200 day simple moving average is $464.56. The stock has a market cap of $108.75 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.64 and a beta of 0.28.
Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. As a group, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.
Lockheed Martin Dividend Announcement
The firm 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. This represents a $13.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is presently 57.02%.
About Lockheed Martin
(
Free Report)
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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