Patrick Mauro Investment Advisor INC. Has $8.47 Million Holdings in Lockheed Martin Corporation (NYSE:LMT)

Patrick Mauro Investment Advisor INC. increased its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,952 shares of the aerospace company's stock after buying an additional 715 shares during the period. Lockheed Martin accounts for 4.6% of Patrick Mauro Investment Advisor INC.'s holdings, making the stock its 7th largest position. Patrick Mauro Investment Advisor INC.'s holdings in Lockheed Martin were worth $8,466,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First American Bank boosted its holdings in Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after acquiring an additional 1,327 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $33,294,000. Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Lockheed Martin by 18.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after purchasing an additional 2,686 shares in the last quarter. State of Wyoming lifted its stake in Lockheed Martin by 93.9% in the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after buying an additional 539 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Lockheed Martin by 3.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock worth $49,893,000 after buying an additional 3,809 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on LMT shares. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Bank of America cut 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. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, TD Cowen restated a "hold" rating and set a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $532.69.

Lockheed Martin Stock Down 0.4%

LMT traded down $1.87 during midday trading on Thursday, reaching $469.60. The company's stock had a trading volume of 925,459 shares, compared to its average volume of 1,368,147. The stock's 50-day moving average is $469.66 and its 200-day moving average is $464.66. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The firm has a market capitalization of $110.03 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.65 and a beta of 0.28. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79.

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 analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.81%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

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.