Wesbanco Bank Inc. Grows Holdings in Lockheed Martin Co. (NYSE:LMT)

Wesbanco Bank Inc. lifted its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,095 shares of the aerospace company's stock after buying an additional 2,071 shares during the quarter. Wesbanco Bank Inc.'s holdings in Lockheed Martin were worth $10,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock worth $2,374,557,000 after purchasing an additional 59,597 shares in the last quarter. Northern Trust Corp boosted its stake in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock worth $1,098,667,000 after purchasing an additional 134,662 shares in the last quarter. Invesco Ltd. boosted its stake in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock worth $1,035,989,000 after purchasing an additional 318,007 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Wells Fargo & Company dropped their price target on shares of 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. 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 research note on Monday, April 28th. Finally, Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $481.49 on Monday. The firm's 50 day moving average price is $467.56 and its 200-day moving average price is $471.52. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $112.81 billion, a PE ratio of 21.63, a price-to-earnings-growth 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 for the quarter, topping 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 firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 dividend payout ratio 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.

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