MinichMacGregor Wealth Management LLC Increases Stock Position in Lockheed Martin Corporation (NYSE:LMT)

MinichMacGregor Wealth Management LLC grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,142 shares of the aerospace company's stock after buying an additional 738 shares during the period. MinichMacGregor Wealth Management LLC's holdings in Lockheed Martin were worth $2,744,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Synergy Asset Management LLC grew its stake in shares of Lockheed Martin by 30.1% during the 1st quarter. Synergy Asset Management LLC now owns 9,421 shares of the aerospace company's stock valued at $4,208,000 after buying an additional 2,178 shares during the period. Altrius Capital Management Inc grew its stake in shares of Lockheed Martin by 13.3% during the 1st quarter. Altrius Capital Management Inc now owns 10,059 shares of the aerospace company's stock valued at $4,494,000 after buying an additional 1,177 shares during the period. Buck Wealth Strategies LLC grew its stake in shares of Lockheed Martin by 23.4% during the 1st quarter. Buck Wealth Strategies LLC now owns 20,171 shares of the aerospace company's stock valued at $9,011,000 after buying an additional 3,831 shares during the period. Masso Torrence Wealth Management Inc. grew its stake in shares of Lockheed Martin by 8.6% during the 1st quarter. Masso Torrence Wealth Management Inc. now owns 1,337 shares of the aerospace company's stock valued at $597,000 after buying an additional 106 shares during the period. Finally, Intact Investment Management Inc. boosted its position in Lockheed Martin by 131.6% during the 1st quarter. Intact Investment Management Inc. now owns 19,457 shares of the aerospace company's stock worth $8,692,000 after purchasing an additional 11,057 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $470.21 on Friday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95. The company's 50-day simple moving average is $471.63 and its 200-day simple moving average is $468.25. The stock has a market capitalization of $110.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.64 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 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 business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's payout ratio is 57.02%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research reports. Royal Bank Of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target for the company in a research report on Wednesday, April 23rd. Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Wall Street Zen cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Finally, Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Nine investment 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $541.80.

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.

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