Broadway Wealth Solutions Inc. Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Broadway Wealth Solutions Inc. lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.0% in the first quarter, Holdings Channel.com reports. The fund owned 489 shares of the aerospace company’s stock after selling 31 shares during the quarter. Broadway Wealth Solutions Inc.’s holdings in Lockheed Martin were worth $219,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin during the fourth quarter valued at about $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LMT. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Jefferies Financial Group decreased their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. UBS Group upped their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Trading Up 0.7%

NYSE:LMT opened at $481.49 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The business’s 50-day simple moving average is $467.56 and its 200 day simple moving average is $472.01. The stock has a market cap of $112.81 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

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 return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Lockheed Martin Company Profile

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.