Spirit of America Management Corp NY Increases Position in Lockheed Martin Corporation (NYSE:LMT)

Spirit of America Management Corp NY lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 800 shares of the aerospace company’s stock after acquiring an additional 50 shares during the quarter. Spirit of America Management Corp NY’s holdings in Lockheed Martin were worth $357,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LMT. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report 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 report on Wednesday, April 23rd. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a report on Wednesday, April 16th. Finally, Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Down 2.3%

NYSE:LMT opened at $468.27 on Friday. The firm has a market capitalization of $109.72 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29. The stock has a 50 day moving average of $471.73 and a 200-day moving average of $468.91. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79.

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

Lockheed Martin Dividend Announcement

The firm also recently disclosed 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 2.82%. The ex-dividend date 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.