Sequoia Financial Advisors LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 12.5% during the 1st quarter, Holdings Channel reports. The firm owned 4,358 shares of the aerospace company’s stock after acquiring an additional 485 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Lockheed Martin were worth $1,477,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin Edwards Inc. boosted its position in Lockheed Martin by 89.7% during the 1st quarter. Benjamin Edwards Inc. now owns 74 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter worth $26,000. Key Financial Inc purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $26,000. HighMark Wealth Management LLC purchased a new position in shares of Lockheed Martin during the 4th quarter valued at about $27,000. Finally, MBE Wealth Management LLC purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $29,000. 79.28% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on LMT shares. Credit Suisse Group dropped their target price on Lockheed Martin from $435.00 to $433.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Royal Bank of Canada started coverage on Lockheed Martin in a research report on Wednesday. They set a “sector perform” rating and a $410.00 target price on the stock. Cowen started coverage on Lockheed Martin in a research report on Tuesday, April 21st. They set a “buy” rating and a $410.00 target price on the stock. Argus dropped their target price on Lockheed Martin from $475.00 to $425.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. They noted that the move was a valuation call. Finally, Stifel Nicolaus dropped their target price on Lockheed Martin from $480.00 to $440.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $439.00.
Shares of Lockheed Martin stock traded up $0.18 on Friday, hitting $369.00. 752,010 shares of the company were exchanged, compared to its average volume of 1,363,502. The stock has a market capitalization of $103.43 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. The company has a 50-day moving average price of $373.39 and a 200 day moving average price of $387.36. Lockheed Martin Co. has a 1-year low of $266.11 and a 1-year high of $442.53. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 3.28.
Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 21st. The aerospace company reported $6.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.80 by $0.28. The business had revenue of $15.65 billion for the quarter, compared to analysts’ expectations of $15.07 billion. Lockheed Martin had a return on equity of 185.10% and a net margin of 10.21%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.99 EPS. Research analysts forecast that Lockheed Martin Co. will post 24.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, May 29th. Lockheed Martin’s dividend payout ratio is currently 43.74%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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