Berkshire Bank Boosts Position in Lockheed Martin Co. (NYSE:LMT)

Berkshire Bank increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,541 shares of the aerospace company’s stock after purchasing an additional 47 shares during the quarter. Berkshire Bank’s holdings in Lockheed Martin were worth $688,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund increased its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares during the period. Aquatic Capital Management LLC acquired a new position in Lockheed Martin during the fourth quarter worth approximately $33,294,000. Private Advisor Group LLC increased its holdings in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after purchasing an additional 5,075 shares during the period. State of Wyoming increased its holdings in shares of Lockheed Martin by 93.9% in the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock valued at $541,000 after purchasing an additional 539 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock worth $49,893,000 after acquiring an additional 3,809 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $466.91 on Tuesday. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. 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 company has a market capitalization of $109.39 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.29. The stock’s fifty day simple moving average is $471.23 and its 200-day simple moving average is $469.21.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The firm had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s payout ratio is presently 57.02%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, UBS Group upped their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Nine 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 data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target 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.