Family Legacy Inc. Grows Position in Lockheed Martin Corporation (NYSE:LMT)

Family Legacy Inc. lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 1.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,537 shares of the aerospace company’s stock after buying an additional 92 shares during the quarter. Family Legacy Inc.’s holdings in Lockheed Martin were worth $3,814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LMT. LaFleur & Godfrey LLC lifted its holdings in shares of Lockheed Martin by 18.0% in the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company’s stock worth $562,000 after buying an additional 176 shares in the last quarter. Eagle Capital Management LLC lifted its holdings in shares of Lockheed Martin by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock worth $5,261,000 after buying an additional 32 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Lockheed Martin by 5.0% in the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after buying an additional 191 shares in the last quarter. Hudson Portfolio Management LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at $256,000. Finally, Howard Capital Management Inc. raised its stake in Lockheed Martin by 20.0% during the fourth quarter. Howard Capital Management Inc. now owns 3,492 shares of the aerospace company’s stock valued at $1,697,000 after purchasing an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent research reports. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group decreased their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Up 0.3%

Shares of Lockheed Martin stock opened at $472.16 on Tuesday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The firm’s 50-day moving average is $471.56 and its two-hundred day moving average is $467.62. The stock has a market cap of $110.63 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.64 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is currently 57.02%.

About Lockheed Martin

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.