Tcfg Wealth Management LLC Invests $259,000 in Lockheed Martin Corporation (NYSE:LMT)

Tcfg Wealth Management LLC purchased a new position in Lockheed Martin Corporation (NYSE:LMT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 579 shares of the aerospace company's stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Geode Capital Management LLC raised its holdings in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock valued at $2,374,557,000 after buying an additional 59,597 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock worth $1,098,667,000 after buying an additional 134,662 shares during the last quarter. Invesco Ltd. increased its position in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after acquiring an additional 318,007 shares during the period. Finally, GAMMA Investing LLC lifted its position in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after acquiring an additional 1,986,600 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Trading Down 2.3%

Shares of NYSE:LMT traded down $11.07 during trading on Wednesday, reaching $468.27. The stock had a trading volume of 1,857,802 shares, compared to its average volume of 1,338,489. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The stock has a market cap of $109.72 billion, a P/E ratio of 20.23, a PEG ratio of 1.63 and a beta of 0.29. The business has a fifty day moving average price of $471.55 and a 200-day moving average price of $469.28. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. As a group, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's payout ratio is 57.02%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. 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 note on Wednesday, April 23rd. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Finally, Wells Fargo & Company reduced their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

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.