Verity & Verity LLC Acquires 1,036 Shares of Lockheed Martin Co. (NYSE:LMT)

Verity & Verity LLC lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 3.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 33,705 shares of the aerospace company's stock after acquiring an additional 1,036 shares during the period. Verity & Verity LLC's holdings in Lockheed Martin were worth $15,056,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. LaFleur & Godfrey LLC raised its position in Lockheed Martin by 18.0% in the 4th quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after purchasing an additional 176 shares during the period. Eagle Capital Management LLC raised its position in Lockheed Martin by 0.3% in the 4th 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 during the period. Brighton Jones LLC raised its position in Lockheed Martin by 5.0% in the 4th 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 during the period. Hudson Portfolio Management LLC purchased a new position in Lockheed Martin in the 4th quarter worth $256,000. Finally, Stonebridge Financial Group LLC purchased a new position in Lockheed Martin in the 4th quarter worth $147,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 3.5%

Shares of NYSE LMT traded up $16.48 during midday trading on Friday, hitting $485.75. 2,714,812 shares of the company traded hands, compared to its average volume of 1,324,545. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a 50-day moving average price of $470.72 and a 200 day moving average price of $470.04. 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.

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

Lockheed Martin Announces Dividend

The firm 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 dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group decreased their target price 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 cut 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 objective on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group boosted their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

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.