LPL Financial LLC Has $277.74 Million Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• LPL Financial LLC increased its holdings in Lockheed Martin by 2.4%, acquiring an additional 14,807 shares during the 1st quarter, bringing their total ownership to approximately $277.74 million.
• Several analysts have recently adjusted their price targets for Lockheed Martin, with the average rating at "Hold" and a target price of $506.65, reflecting a range of price objectives from $440.00 to $551.00.
• Lockheed Martin announced a quarterly dividend of $3.30, resulting in an annualized dividend yield of 3.13%, set to be paid on September 26.

LPL Financial LLC grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 621,755 shares of the aerospace company's stock after acquiring an additional 14,807 shares during the period. LPL Financial LLC owned about 0.27% of Lockheed Martin worth $277,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Capital Management LLC raised its stake in Lockheed Martin by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after buying an additional 32 shares in the last quarter. Brighton Jones LLC grew its holdings in Lockheed Martin by 5.0% in the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares during the last quarter. Hudson Portfolio Management LLC purchased a new position in Lockheed Martin in the fourth quarter worth $256,000. Loomis Sayles & Co. L P grew its holdings in Lockheed Martin by 14.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 18,548 shares of the aerospace company's stock worth $9,014,000 after purchasing an additional 2,335 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its holdings in Lockheed Martin by 18,850.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 5,685 shares of the aerospace company's stock worth $2,763,000 after purchasing an additional 5,655 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group lowered their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Vertical Research restated a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. 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 MarketBeat, Lockheed Martin has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin Stock Up 0.4%

Shares of Lockheed Martin stock traded up $1.77 during midday trading on Thursday, reaching $420.45. 920,583 shares of the company's stock traded hands, compared to its average volume of 1,674,937. The company has a market cap of $98.16 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.47 and a beta of 0.28. The company's 50 day simple moving average is $462.63 and its 200 day simple moving average is $461.70. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95.

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

Lockheed Martin Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.14%. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

About Lockheed Martin

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.