Princeton Global Asset Management LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,471 shares of the aerospace company’s stock after acquiring an additional 67 shares during the period. Princeton Global Asset Management LLC’s holdings in Lockheed Martin were worth $2,297,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Key Financial Inc bought a new position in shares of Lockheed Martin in the 4th quarter valued at $26,000. Simon Quick Advisors LLC bought a new position in shares of Lockheed Martin in the 3rd quarter valued at $32,000. ForthRight Wealth Management LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at $35,000. Barnett & Company Inc. bought a new position in Lockheed Martin during the 3rd quarter worth $38,000. Finally, Laurel Wealth Advisors LLC raised its position in Lockheed Martin by 28.6% during the 4th quarter. Laurel Wealth Advisors LLC now owns 135 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 77.00% of the company’s stock.
Several brokerages recently issued reports on LMT. Cowen reaffirmed a “buy” rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Friday, November 27th. Morgan Stanley lowered their target price on Lockheed Martin from $480.00 to $445.00 and set an “overweight” rating for the company in a research report on Monday, February 8th. Credit Suisse Group lowered their target price on Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Finally, Robert W. Baird lowered Lockheed Martin from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $368.00 in a research report on Thursday, January 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $418.15.
Shares of LMT traded down $0.47 during trading hours on Tuesday, hitting $340.00. The stock had a trading volume of 28,666 shares, compared to its average volume of 1,975,926. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.33 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $338.00 and a 200-day simple moving average of $366.14. The firm has a market capitalization of $95.24 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. Lockheed Martin Co. has a 1-year low of $266.11 and a 1-year high of $424.20.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Monday, January 25th. The aerospace company reported $6.38 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.03). Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The business had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $16.92 billion. During the same quarter in the prior year, the firm posted $5.29 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts predict that Lockheed Martin Co. will post 24.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Monday, March 1st will be given a dividend of $2.60 per share. The ex-dividend date of this dividend is Friday, February 26th. This represents a $10.40 dividend on an annualized basis and a dividend yield of 3.06%. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.38%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.
Featured Article: Asset Allocation Models, Which is Right For You?
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.