Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC increased its stake in Lockheed Martin Co. (NYSE:LMT) by 19.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,466 shares of the aerospace company’s stock after buying an additional 2,405 shares during the quarter. Lockheed Martin comprises 1.1% of Synergy Asset Management LLC’s portfolio, making the stock its 24th largest position. Synergy Asset Management LLC’s holdings in Lockheed Martin were worth $6,580,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Cullinan Associates Inc. grew its stake in shares of Lockheed Martin by 2.0% in the first quarter. Cullinan Associates Inc. now owns 27,811 shares of the aerospace company’s stock valued at $12,650,000 after buying an additional 539 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Lockheed Martin by 17.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 193,600 shares of the aerospace company’s stock worth $88,063,000 after purchasing an additional 28,697 shares during the last quarter. Eagle Capital Management LLC raised its position in shares of Lockheed Martin by 1.0% in the 1st quarter. Eagle Capital Management LLC now owns 10,838 shares of the aerospace company’s stock valued at $4,930,000 after purchasing an additional 106 shares in the last quarter. Claro Advisors LLC boosted its stake in shares of Lockheed Martin by 4.6% during the 1st quarter. Claro Advisors LLC now owns 3,858 shares of the aerospace company’s stock valued at $1,755,000 after buying an additional 168 shares during the last quarter. Finally, Kowal Investment Group LLC increased its stake in shares of Lockheed Martin by 54.3% in the first quarter. Kowal Investment Group LLC now owns 1,322 shares of the aerospace company’s stock worth $601,000 after buying an additional 465 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LMT shares. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Wells Fargo & Company upped their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Citigroup lifted their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group dropped their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $485.40.

Lockheed Martin Stock Down 0.4 %

Shares of LMT traded down $1.85 during midday trading on Tuesday, reaching $464.59. 176,950 shares of the stock were exchanged, compared to its average volume of 1,087,322. The company has a market cap of $111.47 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 4.40 and a beta of 0.46. The firm has a 50 day simple moving average of $464.84 and a 200-day simple moving average of $450.33. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $479.50. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

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 the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. Lockheed Martin’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.43 EPS. Research analysts forecast that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given 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 2.71%. Lockheed Martin’s payout ratio is currently 46.10%.

Lockheed Martin 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.