Foster Victor Wealth Advisors LLC Has $12.22 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Foster Victor Wealth Advisors LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 10.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,726 shares of the aerospace company’s stock after purchasing an additional 2,426 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Lockheed Martin were worth $12,217,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its stake in shares of Lockheed Martin by 5.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 11,109 shares of the aerospace company’s stock valued at $4,962,000 after purchasing an additional 569 shares in the last quarter. Tcfg Wealth Management LLC acquired a new position in Lockheed Martin during the 1st quarter worth about $259,000. Lakeridge Wealth Management LLC lifted its position in Lockheed Martin by 4.2% during the 1st quarter. Lakeridge Wealth Management LLC now owns 738 shares of the aerospace company’s stock worth $330,000 after buying an additional 30 shares in the last quarter. Palouse Capital Management Inc. acquired a new position in Lockheed Martin during the 1st quarter worth about $2,594,000. Finally, Southland Equity Partners LLC lifted its position in Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company’s stock worth $342,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 3.5%

Shares of NYSE LMT opened at $485.75 on Friday. The company’s 50 day simple moving average is $470.72 and its 200 day simple moving average is $470.04. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share 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 business had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. On average, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $3.30 dividend. 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 presently 57.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LMT. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target on the stock in a research report on Wednesday, April 23rd. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Finally, Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 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.