Family Legacy Inc. Purchases 92 Shares of Lockheed Martin Corporation (NYSE:LMT)

Family Legacy Inc. grew its position in Lockheed Martin Corporation (NYSE:LMT) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 8,537 shares of the aerospace company’s stock after acquiring an additional 92 shares during the quarter. Family Legacy Inc.’s holdings in Lockheed Martin were worth $3,814,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LMT. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the last quarter. Proficio Capital Partners LLC raised its position in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after buying an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth approximately $526,587,000. Finally, Leigh Baldwin & CO. LLC purchased a new position in Lockheed Martin during the 4th quarter worth approximately $451,985,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent research reports. Morgan Stanley raised 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. Royal Bank Of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Wall Street Zen lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $472.16 on Tuesday. The firm’s 50 day simple moving average is $471.56 and its 200-day simple moving average is $467.62. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95. The stock has a market capitalization of $110.63 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.64 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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 net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

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 $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.80%. Lockheed Martin’s dividend payout ratio 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.