Elevation Point Wealth Partners LLC Grows Holdings in Lockheed Martin Co. (NYSE:LMT)

Elevation Point Wealth Partners LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 34.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,430 shares of the aerospace company’s stock after purchasing an additional 617 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Lockheed Martin were worth $1,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the 4th quarter worth $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LMT shares. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $485.75 on Friday. The stock has a market cap of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The company’s 50-day moving average price is $470.72 and its 200 day moving average price is $470.04. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) 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 company had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. As a group, research analysts forecast that Lockheed Martin Co. 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, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.72%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

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.