5,806 Shares in Lockheed Martin Co. (NYSE:LMT) Purchased by Palouse Capital Management Inc.

Palouse Capital Management Inc. acquired a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,806 shares of the aerospace company's stock, valued at approximately $2,594,000. Lockheed Martin accounts for 1.8% of Palouse Capital Management Inc.'s investment portfolio, making the stock its 25th biggest holding.

A number of other large investors also recently modified their holdings of LMT. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $35,000. Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $16.48 on Friday, reaching $485.75. 2,714,812 shares of the company's stock were exchanged, compared to its average volume of 1,322,059. The firm has a market capitalization of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The business's 50-day moving average is $470.72 and its two-hundred day moving average is $470.42. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company 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 $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.72%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LMT. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their target price for the company 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. Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Wells Fargo & Company dropped their target price 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. Finally, Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Nine equities 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 company's stock. According to MarketBeat, Lockheed Martin has a consensus rating of "Moderate Buy" and an average target price of $541.80.

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.