SkyOak Wealth LLC Increases Stock Position in Lockheed Martin Corporation (NYSE:LMT)

SkyOak Wealth LLC boosted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 196.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,422 shares of the aerospace company’s stock after buying an additional 943 shares during the quarter. SkyOak Wealth LLC’s holdings in Lockheed Martin were worth $635,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. TD Cowen restated a “hold” rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday. Royal Bank Of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Truist Financial dropped their price objective on shares of Lockheed Martin from $579.00 to $554.00 and set a “buy” rating on the stock in a report on Friday. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $531.47.

Lockheed Martin Stock Up 0.7%

LMT opened at $467.48 on Friday. The company has a fifty day moving average of $469.54 and a two-hundred day moving average of $465.01. The stock has a market capitalization of $109.53 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.63 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two 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.

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

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s payout ratio is presently 57.02%.

About Lockheed Martin

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.