Tcfg Wealth Management LLC Takes $259,000 Position in Lockheed Martin Co. (NYSE:LMT)

Tcfg Wealth Management LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 579 shares of the aerospace company’s stock, valued at approximately $259,000.

Several other hedge funds also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $485.75 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The stock has a market capitalization of $113.81 billion, a PE ratio of 21.82, a P/E/G ratio of 2.07 and a beta of 0.29. The firm has a 50 day moving average of $470.72 and a two-hundred day moving average of $470.04.

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 analysts’ consensus estimates 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, research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 yield of 2.72%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a research report on Wednesday, April 16th. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Jefferies Financial Group reduced their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. 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 report on Tuesday, April 8th. Finally, Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a 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’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $541.80.

About Lockheed Martin

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.