MQS Management LLC Increases Holdings in Lockheed Martin Corporation (NYSE:LMT)

MQS Management LLC grew its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 295.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,013 shares of the aerospace company's stock after purchasing an additional 1,504 shares during the period. Lockheed Martin comprises about 0.5% of MQS Management LLC's holdings, making the stock its 20th largest holding. MQS Management LLC's holdings in Lockheed Martin were worth $899,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Zullo Investment Group Inc. increased its holdings in shares of Lockheed Martin by 2.7% in the first quarter. Zullo Investment Group Inc. now owns 1,679 shares of the aerospace company's stock worth $750,000 after buying an additional 44 shares during the period. Isthmus Partners LLC increased its holdings in shares of Lockheed Martin by 2.2% in the first quarter. Isthmus Partners LLC now owns 24,498 shares of the aerospace company's stock worth $10,944,000 after buying an additional 520 shares during the period. Secured Retirement Advisors LLC purchased a new position in shares of Lockheed Martin in the first quarter worth about $271,000. Smith Thornton Advisors LLC increased its holdings in shares of Lockheed Martin by 2.8% in the first quarter. Smith Thornton Advisors LLC now owns 837 shares of the aerospace company's stock worth $374,000 after buying an additional 23 shares during the period. Finally, CWM LLC increased its holdings in shares of Lockheed Martin by 3.8% in the first quarter. CWM LLC now owns 61,995 shares of the aerospace company's stock worth $27,694,000 after buying an additional 2,255 shares during the period. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

LMT has been the topic of several analyst reports. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Wells Fargo & Company reduced their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. UBS Group boosted their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Finally, Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and an average price target of $531.47.

Lockheed Martin Stock Up 0.7%

LMT stock traded up $3.17 during midday trading on Friday, hitting $467.48. The company's stock had a trading volume of 1,208,544 shares, compared to its average volume of 1,367,613. The company has a market cap of $109.53 billion, a PE ratio of 20.19, a P/E/G ratio of 1.64 and a beta of 0.28. 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 firm's 50-day moving average is $469.54 and its 200-day moving average is $464.85.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. On average, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.82%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

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.