Lockheed Martin Corporation (NYSE:LMT) Stock Holdings Boosted by Spirit of America Management Corp NY

Spirit of America Management Corp NY raised its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.7% in the first quarter, HoldingsChannel.com reports. The firm owned 800 shares of the aerospace company’s stock after buying an additional 50 shares during the period. Spirit of America Management Corp NY’s holdings in Lockheed Martin were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. GAMMA Investing LLC boosted its stake in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock valued at $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after acquiring an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter valued at $526,587,000. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter valued at $451,985,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Down 2.3%

NYSE LMT opened at $468.27 on Friday. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The company has a market capitalization of $109.72 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29. The firm’s fifty day simple moving average is $471.73 and its 200-day simple moving average is $468.91.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping 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 business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 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, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s payout ratio is 57.02%.

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. UBS Group increased their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. Nine 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 company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average 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.