PUREfi Wealth LLC Acquires 320 Shares of Lockheed Martin Corporation (NYSE:LMT)

PUREfi Wealth LLC raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 66.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 799 shares of the aerospace company’s stock after acquiring an additional 320 shares during the period. PUREfi Wealth LLC’s holdings in Lockheed Martin were worth $357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Lockheed Martin by 51.7% during the 4th 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 during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at about $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 acquiring an additional 5,075 shares during the last quarter. State of Wyoming boosted its holdings 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 during the period. Finally, Treasurer of the State of North Carolina grew 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 worth $49,893,000 after purchasing an additional 3,809 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $478.91 on Wednesday. The company’s fifty day moving average price is $471.55 and its 200-day moving average price is $469.28. The stock has a market cap of $112.21 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. On average, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.76%. Lockheed Martin’s payout ratio is 57.02%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Jefferies Financial Group decreased their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective on the stock in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $541.80.

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.