Virtu Financial LLC Boosts Holdings in Lockheed Martin Corporation (NYSE:LMT)

Virtu Financial LLC lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 121.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 15,996 shares of the aerospace company’s stock after acquiring an additional 8,785 shares during the period. Lockheed Martin accounts for approximately 0.4% of Virtu Financial LLC’s portfolio, making the stock its 21st biggest position. Virtu Financial LLC’s holdings in Lockheed Martin were worth $7,145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LMT. Eagle Capital Management LLC grew its position in shares of Lockheed Martin by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock valued at $5,261,000 after buying an additional 32 shares during the last quarter. Brighton Jones LLC boosted its stake in Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after purchasing an additional 191 shares during the period. Hudson Portfolio Management LLC acquired a new stake in Lockheed Martin during the 4th quarter worth $256,000. Bessemer Group Inc. boosted its stake in Lockheed Martin by 8.9% during the 4th quarter. Bessemer Group Inc. now owns 17,369 shares of the aerospace company’s stock worth $8,440,000 after purchasing an additional 1,423 shares during the period. Finally, Petros Family Wealth LLC acquired a new stake in Lockheed Martin during the 4th quarter worth $393,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on LMT shares. Robert W. Baird decreased their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Susquehanna decreased their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Jefferies Financial Group decreased their price target 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. TD Cowen reiterated 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, July 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average price target of $506.65.

Lockheed Martin Stock Performance

NYSE:LMT opened at $425.68 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The firm has a 50-day moving average price of $456.14 and a two-hundred day moving average price of $458.38. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a market capitalization of $99.38 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the firm posted $7.11 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 74.32%.

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.