Kingswood Wealth Advisors LLC Buys 12,343 Shares of Lockheed Martin Corporation (NYSE:LMT)

Kingswood Wealth Advisors LLC grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 123.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 22,366 shares of the aerospace company’s stock after acquiring an additional 12,343 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Lockheed Martin were worth $10,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC bought a new position in Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $42,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LMT shares. Wells Fargo & Company cut their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group lifted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Up 2.5%

Shares of Lockheed Martin stock opened at $478.91 on Wednesday. The business’s 50 day simple moving average is $471.55 and its 200 day simple moving average is $469.28. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The firm has a market cap of $112.21 billion, a PE ratio of 20.69, a P/E/G ratio of 1.63 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. On average, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.76%. 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.