Infrastructure Capital Advisors LLC bought a new position in Lockheed Martin Corporation (NYSE:LMT – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,554 shares of the aerospace company’s stock, valued at approximately $6,396,000.
Other institutional investors also recently made changes to their positions in the company. World Investment Advisors boosted its stake in Lockheed Martin by 54.7% during the 4th quarter. World Investment Advisors now owns 14,739 shares of the aerospace company’s stock valued at $7,129,000 after purchasing an additional 5,214 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Lockheed Martin by 5.4% in the first quarter. SG Americas Securities LLC now owns 276,383 shares of the aerospace company’s stock valued at $167,043,000 after buying an additional 14,150 shares during the period. Secured Retirement Advisors LLC boosted its stake in Lockheed Martin by 288.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 3,128 shares of the aerospace company’s stock valued at $1,513,000 after buying an additional 2,323 shares in the last quarter. Norris Financial Group LLC acquired a new position in Lockheed Martin during the first quarter worth about $2,321,000. Finally, Legal Advantage Investments Inc. bought a new stake in Lockheed Martin in the first quarter worth about $1,451,000. 74.19% of the stock is owned by institutional investors.
Lockheed Martin Stock Up 0.2%
Shares of NYSE:LMT opened at $564.61 on Monday. The company’s fifty day moving average is $547.80 and its 200-day moving average is $575.31. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.01 and a current ratio of 1.19. Lockheed Martin Corporation has a 52 week low of $437.25 and a 52 week high of $692.00. The company has a market capitalization of $130.31 billion, a PE ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 0.10.
Lockheed Martin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Lockheed Martin’s dividend payout ratio is 50.87%.
Analysts Set New Price Targets
LMT has been the topic of a number of research reports. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Citigroup lifted their target price on Lockheed Martin from $641.00 to $691.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their target price on shares of Lockheed Martin from $575.00 to $600.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. TD Cowen lowered their price target on Lockheed Martin from $600.00 to $560.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Finally, Morgan Stanley upped their price target on Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $632.39.
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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