Smart Money Group LLC Raises Holdings in Lockheed Martin Corporation (NYSE:LMT)

Smart Money Group LLC grew its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 39.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,024 shares of the aerospace company's stock after buying an additional 574 shares during the quarter. Smart Money Group LLC's holdings in Lockheed Martin were worth $904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LaFleur & Godfrey LLC increased its position in shares of Lockheed Martin by 18.0% during the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after purchasing an additional 176 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after purchasing an additional 32 shares in the last quarter. Brighton Jones LLC increased its position in shares of Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares in the last quarter. Hudson Portfolio Management LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $256,000. Finally, Fisher Asset Management LLC increased its position in shares of Lockheed Martin by 11.6% during the fourth quarter. Fisher Asset Management LLC now owns 7,527 shares of the aerospace company's stock worth $3,658,000 after purchasing an additional 785 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 0.2%

Shares of Lockheed Martin stock traded up $0.76 during trading hours on Thursday, hitting $463.31. The company's stock had a trading volume of 707,859 shares, compared to its average volume of 1,354,786. The firm has a fifty day moving average of $470.96 and a 200-day moving average of $466.07. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market cap of $108.55 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results 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. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 57.02%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LMT. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a report on Wednesday, April 16th. Bank of America cut 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. Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Finally, Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.