Simmons Bank grew its position in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 6.8% during the first quarter, HoldingsChannel reports. The firm owned 15,751 shares of the aerospace company’s stock after buying an additional 999 shares during the period. Simmons Bank’s holdings in Lockheed Martin were worth $9,520,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in LMT. Basso Capital Management L.P. acquired a new stake in Lockheed Martin during the 4th quarter valued at $25,000. United Financial Planning Group LLC acquired a new position in Lockheed Martin in the 3rd quarter worth $25,000. Clarity Asset Management Inc. acquired a new position in Lockheed Martin in the 4th quarter worth $26,000. Triumph Capital Management boosted its position in Lockheed Martin by 66.7% in the 4th quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after buying an additional 22 shares during the last quarter. Finally, Bard Associates Inc. purchased a new position in Lockheed Martin in the 4th quarter valued at about $27,000. 74.19% of the stock is owned by institutional investors and hedge funds.
Lockheed Martin Stock Performance
Shares of Lockheed Martin stock opened at $502.53 on Tuesday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.94 and a current ratio of 1.14. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $692.00. The firm’s 50-day simple moving average is $524.08 and its 200-day simple moving average is $567.73. The firm has a market cap of $115.86 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.10.
Lockheed Martin Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 1st were given a $3.45 dividend. The ex-dividend date was Monday, June 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. Lockheed Martin’s dividend payout ratio (DPR) is presently 66.83%.
Wall Street Analysts Forecast Growth
LMT has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on Lockheed Martin in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $650.00 target price on the stock. Citigroup lowered their price objective on Lockheed Martin from $675.00 to $571.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Wall Street Zen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings lowered Lockheed Martin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. Finally, Susquehanna cut their target price on Lockheed Martin from $740.00 to $700.00 and set a “positive” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $619.63.
View Our Latest Stock Report on LMT
About Lockheed Martin
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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