Sowell Financial Services LLC Buys New Stake in Lockheed Martin Co. (NYSE:LMT)

Sowell Financial Services LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,702 shares of the aerospace company’s stock, valued at approximately $2,100,000.

Several other large investors have also recently added to or reduced their stakes in LMT. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $33,294,000. Private Advisor Group LLC raised its stake in shares of Lockheed Martin by 11.0% during the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after purchasing an additional 5,075 shares during the period. State of Wyoming lifted its position in shares of Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock worth $541,000 after purchasing an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Lockheed Martin by 3.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock valued at $49,893,000 after purchasing an additional 3,809 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 4.0%

Shares of NYSE:LMT opened at $466.91 on Tuesday. The company’s fifty day moving average is $471.23 and its two-hundred day moving average is $469.21. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The stock has a market capitalization of $109.39 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last issued its earnings results 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. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LMT shares. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. UBS Group increased their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. 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, the company presently has an average rating of “Moderate Buy” and an average target price 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.