Montecito Bank & Trust Has $281,000 Stock Position in Lockheed Martin Co. (NYSE:LMT)

Montecito Bank & Trust raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 630 shares of the aerospace company’s stock after buying an additional 35 shares during the period. Montecito Bank & Trust’s holdings in Lockheed Martin were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LMT. Columbus Macro LLC boosted its position in Lockheed Martin by 2.5% in the first quarter. Columbus Macro LLC now owns 11,969 shares of the aerospace company’s stock worth $5,347,000 after purchasing an additional 294 shares during the last quarter. Brown Miller Wealth Management LLC grew its stake in shares of Lockheed Martin by 172.4% during the 1st quarter. Brown Miller Wealth Management LLC now owns 3,160 shares of the aerospace company’s stock worth $1,412,000 after acquiring an additional 2,000 shares during the period. Access Financial Services Inc. boosted its holdings in Lockheed Martin by 7.1% in the 1st quarter. Access Financial Services Inc. now owns 3,681 shares of the aerospace company’s stock worth $1,644,000 after buying an additional 245 shares during the period. Acropolis Investment Management LLC increased its position in shares of Lockheed Martin by 3.2% during the first quarter. Acropolis Investment Management LLC now owns 3,791 shares of the aerospace company’s stock valued at $1,693,000 after buying an additional 116 shares during the period. Finally, Optas LLC boosted its holdings in Lockheed Martin by 10.8% in the 1st quarter. Optas LLC now owns 607 shares of the aerospace company’s stock valued at $271,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. UBS Group lifted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Jefferies Financial Group cut their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Finally, Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Trading Down 4.0%

Shares of LMT stock opened at $466.91 on Tuesday. The business has a 50-day moving average of $471.23 and a 200 day moving average of $469.21. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The stock has a market capitalization of $109.39 billion, a PE ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Lockheed Martin Company 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.