Mattern Capital Management LLC Purchases 785 Shares of Lockheed Martin Corporation (NYSE:LMT)

Mattern Capital Management LLC boosted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,331 shares of the aerospace company’s stock after acquiring an additional 785 shares during the quarter. Mattern Capital Management LLC’s holdings in Lockheed Martin were worth $9,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC lifted its stake in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after purchasing an additional 59,597 shares during the last quarter. Northern Trust Corp lifted its stake in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Invesco Ltd. lifted its stake in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after purchasing an additional 318,007 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in 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. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LMT shares. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company cut 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 research note on Tuesday, April 8th. Jefferies Financial Group cut their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Finally, Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $460.63 on Wednesday. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95. The company’s 50 day moving average price is $471.38 and its two-hundred day moving average price is $467.58. The firm has a market cap of $107.93 billion, a PE ratio of 19.90, a PEG ratio of 1.65 and a beta of 0.29. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current 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 issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.87%. Lockheed Martin’s dividend payout ratio is presently 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.