Lockheed Martin Co. (NYSE:LMT) Stake Raised by Grimes & Company Inc.

Grimes & Company Inc. increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 17,805 shares of the aerospace company’s stock after buying an additional 802 shares during the quarter. Grimes & Company Inc.’s holdings in Lockheed Martin were worth $8,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $26,000. Activest Wealth Management increased its stake in Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Iron Horse Wealth Management LLC grew its stake in Lockheed Martin by 1,925.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after buying an additional 77 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in Lockheed Martin during the first quarter worth about $38,000. Finally, TFC Financial Management Inc. lifted its position in shares of Lockheed Martin by 206.9% during the fourth quarter. TFC Financial Management Inc. now owns 89 shares of the aerospace company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

NYSE:LMT traded down $0.03 during trading hours on Friday, hitting $467.10. The stock had a trading volume of 3,472,549 shares, compared to its average volume of 988,980. The company has a 50 day simple moving average of $464.84 and a two-hundred day simple moving average of $450.34. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The firm has a market capitalization of $112.08 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 4.40 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter in the previous year, the company earned $6.43 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LMT shares. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group cut their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $475.00 to $518.00 in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $485.40.

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.