Pallas Capital Advisors LLC Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Pallas Capital Advisors LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 109.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,686 shares of the aerospace company's stock after purchasing an additional 1,403 shares during the period. Pallas Capital Advisors LLC's holdings in Lockheed Martin were worth $1,200,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $35,000. Redwood Park Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin during the fourth quarter worth $42,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LMT. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $685.00 to $485.00 in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Up 2.1%

Shares of NYSE:LMT traded up $9.37 during midday trading on Thursday, reaching $465.97. The company's stock had a trading volume of 764,636 shares, compared to its average volume of 1,309,459. The firm has a 50 day moving average of $469.07 and a 200-day moving average of $471.03. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $109.17 billion, a P/E ratio of 20.93, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95.

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, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. On average, research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's payout ratio is 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.