Sowell Financial Services LLC Buys Shares of 4,702 Lockheed Martin Co. (NYSE:LMT)

Sowell Financial Services LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) during the 1st quarter, Holdings Channel reports. The firm purchased 4,702 shares of the aerospace company’s stock, valued at approximately $2,100,000.

A number of other hedge funds also recently made changes to their positions in the business. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin in the fourth quarter worth $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the fourth quarter valued at $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin in the fourth quarter worth about $42,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research analyst reports. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Jefferies Financial Group decreased their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. UBS Group boosted their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research report on Wednesday, April 16th. Finally, Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Stock Down 4.0%

Shares of Lockheed Martin stock opened at $466.91 on Tuesday. The stock’s fifty day moving average is $471.23 and its 200-day moving average is $469.21. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $109.39 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) 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 company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

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.