Center for Financial Planning Inc. Has $279,000 Holdings in Lockheed Martin Corporation (NYSE:LMT)

Center for Financial Planning Inc. increased its stake in Lockheed Martin Corporation (NYSE:LMT) by 41.1% in the 1st quarter, Holdings Channel reports. The firm owned 625 shares of the aerospace company’s stock after purchasing an additional 182 shares during the period. Center for Financial Planning Inc.’s holdings in Lockheed Martin were worth $279,000 as of its most recent filing with the SEC.

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

Lockheed Martin Trading Up 0.3%

Shares of LMT stock opened at $470.21 on Friday. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market cap of $110.17 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.64 and a beta of 0.29. The firm has a fifty day moving average of $471.63 and a 200-day moving average of $468.25.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. On average, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 2.81%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LMT shares. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their target price for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Jefferies Financial Group cut their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group upped their price target on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $541.80.

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.