Mattern Capital Management LLC increased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,331 shares of the aerospace company's stock after purchasing an additional 785 shares during the period. Mattern Capital Management LLC's holdings in Lockheed Martin were worth $9,082,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $2,636,000. Archford Capital Strategies LLC grew its holdings in Lockheed Martin by 30.1% in the first quarter. Archford Capital Strategies LLC now owns 8,559 shares of the aerospace company's stock worth $3,823,000 after purchasing an additional 1,980 shares during the period. Financial Enhancement Group LLC increased its stake in Lockheed Martin by 16.1% in the first quarter. Financial Enhancement Group LLC now owns 511 shares of the aerospace company's stock valued at $236,000 after purchasing an additional 71 shares in the last quarter. Penn Davis Mcfarland Inc. increased its stake in Lockheed Martin by 3.9% in the first quarter. Penn Davis Mcfarland Inc. now owns 48,900 shares of the aerospace company's stock valued at $21,844,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Asset Planning Services Inc. LA ADV raised its holdings in shares of Lockheed Martin by 0.5% during the first quarter. Asset Planning Services Inc. LA ADV now owns 16,275 shares of the aerospace company's stock valued at $7,270,000 after purchasing an additional 75 shares during the period. 74.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
LMT has been the subject of several research reports. Morgan Stanley upgraded 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. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Wall Street Zen lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Finally, Melius cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $541.80.
Check Out Our Latest Stock Analysis on Lockheed Martin
Lockheed Martin Stock Down 0.0%
LMT traded down $0.16 during mid-day trading on Thursday, reaching $458.23. 1,589,017 shares of the stock were exchanged, compared to its average volume of 1,352,553. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market capitalization of $107.36 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.29. The company has a 50 day moving average price of $471.01 and a two-hundred day moving average price of $467.51.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $17.83 billion. As a group, research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current 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 paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin's payout ratio is presently 57.02%.
Lockheed Martin Company Profile
(
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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