Procyon Advisors LLC Raises Stake in Lockheed Martin Co. (NYSE:LMT)

Procyon Advisors LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,357 shares of the aerospace company's stock after buying an additional 896 shares during the quarter. Procyon Advisors LLC's holdings in Lockheed Martin were worth $2,295,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $33,294,000. Private Advisor Group LLC raised its stake in shares of Lockheed Martin by 11.0% during the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after buying an additional 5,075 shares during the last quarter. State of Wyoming lifted its holdings in shares of Lockheed Martin by 93.9% in the 4th 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, Soltis Investment Advisors LLC boosted its stake in shares of Lockheed Martin by 42.5% in the fourth quarter. Soltis Investment Advisors LLC now owns 13,935 shares of the aerospace company's stock worth $6,772,000 after buying an additional 4,159 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LMT. 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. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and cut their target price for the company from $685.00 to $485.00 in a 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. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Nine 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. According to MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Up 0.7%

Shares of LMT opened at $481.49 on Friday. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95. 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 stock has a fifty day simple moving average of $467.56 and a two-hundred day simple moving average of $472.45. The company has a market capitalization of $112.81 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

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, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion during 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 analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.74%. Lockheed Martin's dividend payout ratio (DPR) 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.

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