LPL Financial LLC Raises Stock Position in Lockheed Martin Corporation (NYSE:LMT)

LPL Financial LLC raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 621,755 shares of the aerospace company’s stock after acquiring an additional 14,807 shares during the quarter. LPL Financial LLC owned approximately 0.27% of Lockheed Martin worth $277,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. 49 Wealth Management LLC boosted its stake in shares of Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company’s stock worth $295,000 after acquiring an additional 22 shares during the last quarter. OMNI 360 Wealth Inc. boosted its stake in shares of Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company’s stock worth $408,000 after acquiring an additional 22 shares during the last quarter. Private Portfolio Partners LLC boosted its stake in shares of Lockheed Martin by 4.8% during the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company’s stock worth $244,000 after acquiring an additional 23 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in shares of Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company’s stock worth $2,559,000 after acquiring an additional 23 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its stake in shares of Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company’s stock worth $342,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a “market perform” rating in a research report on Monday, July 14th. Jefferies Financial Group decreased their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Monday, April 28th. Robert W. Baird decreased their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada decreased their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 23rd. Finally, UBS Group decreased their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $506.65.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $421.60 on Monday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The company has a market cap of $98.43 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.48 and a beta of 0.28. The firm’s fifty day moving average is $465.80 and its two-hundred day moving average is $462.62. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95.

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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the firm posted $7.11 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend 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.