Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Lakeridge Wealth Management LLC

Lakeridge Wealth Management LLC boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 738 shares of the aerospace company’s stock after acquiring an additional 30 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Lockheed Martin were worth $330,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin in the 4th quarter valued at about $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT opened at $485.75 on Friday. The stock has a 50 day moving average price of $470.72 and a 200 day moving average price of $470.42. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $113.81 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Analyst Ratings Changes

Several equities analysts have weighed in on LMT shares. UBS Group lifted their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

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.