Summit Global Investments Grows Holdings in Lockheed Martin Co. (NYSE:LMT)

Summit Global Investments raised its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 19.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,122 shares of the aerospace company's stock after acquiring an additional 3,323 shares during the period. Lockheed Martin comprises 0.7% of Summit Global Investments' holdings, making the stock its 25th biggest holding. Summit Global Investments' holdings in Lockheed Martin were worth $8,989,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LMT. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after acquiring an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Lockheed Martin during the 4th quarter valued at $33,294,000. Private Advisor Group LLC lifted its position 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 acquiring an additional 5,075 shares during the period. State of Wyoming boosted its stake in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after acquiring an additional 539 shares in the last quarter. Finally, Confluence Wealth Services Inc. increased its stake in Lockheed Martin by 174.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,176 shares of the aerospace company's stock valued at $1,579,000 after purchasing an additional 2,017 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. Nine research 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Stock Performance

NYSE:LMT traded up $7.61 on Friday, reaching $481.30. 2,195,058 shares of the company's stock were exchanged, compared to its average volume of 1,299,215. The stock has a fifty day simple moving average of $464.02 and a 200-day simple moving average of $474.48. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market cap of $112.77 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared 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 yield of 2.74%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's payout ratio 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.