Park Avenue Securities LLC Has $9.06 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Park Avenue Securities LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,288 shares of the aerospace company's stock after purchasing an additional 983 shares during the period. Park Avenue Securities LLC's holdings in Lockheed Martin were worth $9,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $19.70 during trading on Wednesday, hitting $457.20. 3,614,624 shares of the stock were exchanged, compared to its average volume of 1,311,412. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a market capitalization of $107.12 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company's fifty day simple moving average is $469.07 and its 200-day simple moving average is $471.03. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 101.47% and a net margin of 7.51%. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's payout ratio is presently 57.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LMT. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Jefferies Financial Group cut their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. UBS Group raised their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin 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.