Montecito Bank & Trust Buys 35 Shares of Lockheed Martin Co. (NYSE:LMT)

Montecito Bank & Trust grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.9% during the first quarter, HoldingsChannel reports. The firm owned 630 shares of the aerospace company’s stock after purchasing an additional 35 shares during the quarter. Montecito Bank & Trust’s holdings in Lockheed Martin were worth $281,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price 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. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. UBS Group lifted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Price Performance

LMT opened at $466.91 on Tuesday. The company’s 50-day simple moving average is $471.23 and its two-hundred day simple moving average is $469.21. 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 $109.39 billion, a P/E ratio of 20.98, 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 quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued 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 company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared 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 is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) 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.