Evergreen Wealth Management LLC Grows Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Evergreen Wealth Management LLC lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,297 shares of the aerospace company’s stock after acquiring an additional 124 shares during the period. Lockheed Martin comprises about 1.7% of Evergreen Wealth Management LLC’s holdings, making the stock its 21st biggest position. Evergreen Wealth Management LLC’s holdings in Lockheed Martin were worth $2,813,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LMT. Eagle Capital Management LLC raised its position in Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock worth $5,261,000 after buying an additional 32 shares during the last quarter. Brighton Jones LLC raised its position in Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after acquiring an additional 191 shares in the last quarter. Hudson Portfolio Management LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth about $256,000. Proficio Capital Partners LLC increased its position in shares of Lockheed Martin by 10.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,543 shares of the aerospace company’s stock worth $1,236,000 after purchasing an additional 250 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Lockheed Martin during the 4th quarter worth $377,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LMT. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. UBS Group increased their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. Finally, TD Cowen reissued a “hold” rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $532.69.

Lockheed Martin Stock Down 0.0%

Shares of Lockheed Martin stock traded down $0.02 on Friday, hitting $469.18. 128,063 shares of the company’s stock traded hands, compared to its average volume of 1,364,340. The stock has a market cap of $109.93 billion, a P/E ratio of 20.30, a PEG ratio of 1.65 and a beta of 0.28. The firm’s 50-day moving average is $469.56 and its 200 day moving average is $464.56. 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 Corporation has a 52-week low of $418.88 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 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 business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s payout ratio is currently 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.