Smithbridge Asset Management Inc. DE Makes New $5.40 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Smithbridge Asset Management Inc. DE acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,083 shares of the aerospace company's stock, valued at approximately $5,398,000.

Other hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LMT has been the subject of several research reports. Bank of America downgraded shares of 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. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Finally, UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Price Performance

NYSE:LMT traded up $16.48 during mid-day trading on Friday, reaching $485.75. The stock had a trading volume of 2,714,812 shares, compared to its average volume of 1,322,058. The stock has a 50-day simple moving average of $469.84 and a two-hundred day simple moving average of $470.67. The stock has a market capitalization of $113.81 billion, a PE ratio of 21.82, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month 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, beating analysts' consensus estimates of $6.34 by $0.94. The business 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%. On average, equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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