Castle Wealth Management LLC Raises Position in Lockheed Martin Corporation (NYSE:LMT)

Castle Wealth Management LLC lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,844 shares of the aerospace company’s stock after buying an additional 71 shares during the period. Castle Wealth Management LLC’s holdings in Lockheed Martin were worth $824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after acquiring an additional 59,597 shares in the last quarter. Northern Trust Corp grew its stake in shares of Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after acquiring an additional 134,662 shares in the last quarter. Invesco Ltd. grew its stake in shares of Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after acquiring an additional 318,007 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock valued at $889,593,000 after acquiring an additional 1,986,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Lockheed Martin by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company’s stock valued at $619,369,000 after acquiring an additional 70,516 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $462.82 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The business has a 50 day moving average of $470.96 and a two-hundred day moving average of $466.07. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The company has a market cap of $108.44 billion, a P/E ratio of 19.99, a PEG ratio of 1.62 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating 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 company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. As a group, analysts anticipate 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, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Wells Fargo & Company decreased their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Nine investment 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 stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.