Vestcor Inc Grows Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Vestcor Inc increased its holdings in Lockheed Martin by 11.2% during the 1st quarter, bringing their total to 17,036 shares valued at approximately $7.61 million.
• Lockheed Martin's latest earnings report revealed an EPS of $7.29, exceeding analysts' expectations, although revenue fell slightly short at $18.16 billion.
• The company recently announced a quarterly dividend of $3.30 per share, reflecting a 3.15% dividend yield and a payout ratio of 74.32%.

Vestcor Inc increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,036 shares of the aerospace company's stock after purchasing an additional 1,720 shares during the quarter. Vestcor Inc's holdings in Lockheed Martin were worth $7,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LMT. GAMMA Investing LLC boosted its holdings in Lockheed Martin by 41,104.9% in the first 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 in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $526,587,000. Leigh Baldwin & CO. LLC bought a new stake in Lockheed Martin in the fourth quarter worth about $451,985,000. Capital Research Global Investors bought a new stake in shares of Lockheed Martin in the fourth quarter valued at $229,987,000. Finally, Demars Financial Group LLC raised its stake in Lockheed Martin by 47,002.5% in the 4th quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock valued at $210,579,000 after acquiring an additional 432,423 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Down 0.3%

Shares of NYSE:LMT traded down $1.34 during trading on Wednesday, reaching $418.79. 1,630,155 shares of the stock traded hands, compared to its average volume of 1,966,747. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The stock has a market cap of $97.77 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 1.47 and a beta of 0.28. The stock has a 50-day moving average of $462.63 and a two-hundred day moving average of $461.70.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $7.11 EPS. As a group, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 74.32%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several analyst reports. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Jefferies Financial Group reduced their price target 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. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Wells Fargo & Company cut their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $506.65.

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.