Simplicity Wealth LLC Has $2.28 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Simplicity Wealth LLC raised its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 239.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,108 shares of the aerospace company's stock after acquiring an additional 3,605 shares during the quarter. Simplicity Wealth LLC's holdings in Lockheed Martin were worth $2,282,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after buying an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth about $33,294,000. Private Advisor Group LLC lifted its position in shares of Lockheed Martin by 11.0% in the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock worth $24,906,000 after buying an additional 5,075 shares during the last quarter. State of Wyoming lifted its position 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 worth $541,000 after buying an additional 539 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Lockheed Martin by 3.9% in 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 during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LMT. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Jefferies Financial Group reduced their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a research report on Wednesday, April 23rd. Finally, Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $16.48 during trading hours on Friday, hitting $485.75. 2,714,812 shares of the company traded hands, compared to its average volume of 1,324,545. The firm has a market cap of $113.81 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.07 and a beta of 0.29. 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's 50-day simple moving average is $470.72 and its two-hundred day simple moving average is $470.42. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95.

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 (EPS) for the quarter, topping the consensus estimate 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, analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's payout ratio is 57.02%.

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.