Pallas Capital Advisors LLC Buys 1,403 Shares of Lockheed Martin Co. (NYSE:LMT)

Pallas Capital Advisors LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 109.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,686 shares of the aerospace company’s stock after acquiring an additional 1,403 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Lockheed Martin were worth $1,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. GAMMA Investing LLC boosted its position in shares of Lockheed Martin by 41,104.9% during 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 during the last quarter. Proficio Capital Partners LLC raised its stake in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lockheed Martin by 17.9% during 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 purchasing an additional 1,132,461 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at $526,587,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at $451,985,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.8%

NYSE LMT opened at $476.92 on Wednesday. The company’s 50-day moving average price is $468.58 and its 200-day moving average price is $471.13. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market cap of $111.74 billion, a PE ratio of 21.43, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s payout ratio is 57.02%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LMT shares. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Jefferies Financial Group decreased 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 note on Monday, April 28th. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Wells Fargo & Company reduced their target price 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. Nine research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.