Van ECK Associates Corp boosted its position in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 545,981 shares of the aerospace company’s stock after acquiring an additional 4,337 shares during the period. Van ECK Associates Corp owned 0.24% of Lockheed Martin worth $264,075,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LMT. Cerro Pacific Wealth Advisors LLC raised its position in shares of Lockheed Martin by 1.2% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 1,376 shares of the aerospace company’s stock worth $665,000 after acquiring an additional 16 shares in the last quarter. Garner Asset Management Corp raised its position in shares of Lockheed Martin by 0.9% in the 4th quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company’s stock worth $839,000 after acquiring an additional 16 shares in the last quarter. Davis R M Inc. raised its position in shares of Lockheed Martin by 1.3% in the 4th quarter. Davis R M Inc. now owns 1,264 shares of the aerospace company’s stock worth $612,000 after acquiring an additional 16 shares in the last quarter. Broadway Wealth Solutions Inc. raised its position in shares of Lockheed Martin by 3.6% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 484 shares of the aerospace company’s stock worth $234,000 after acquiring an additional 17 shares in the last quarter. Finally, Aspire Growth Partners LLC raised its position in shares of Lockheed Martin by 0.7% in the 4th quarter. Aspire Growth Partners LLC now owns 2,515 shares of the aerospace company’s stock worth $1,217,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.
Lockheed Martin Stock Down 1.6%
LMT stock opened at $539.94 on Friday. The business has a 50 day moving average of $548.13 and a 200 day moving average of $562.41. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 2.74. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $692.00. The firm has a market cap of $124.49 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 0.99 and a beta of 0.10.
Lockheed Martin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, June 1st. Lockheed Martin’s dividend payout ratio (DPR) is currently 66.83%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on LMT. Susquehanna decreased their target price on Lockheed Martin from $740.00 to $700.00 and set a “positive” rating for the company in a research report on Friday, April 24th. Morgan Stanley decreased their target price on Lockheed Martin from $675.00 to $653.00 and set an “equal weight” rating for the company in a research report on Friday, April 24th. Wall Street Zen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Royal Bank Of Canada decreased their target price on Lockheed Martin from $650.00 to $575.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. Finally, DZ Bank raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $620.68.
Get Our Latest Report on Lockheed Martin
Lockheed Martin Profile
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
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