Pallas Capital Advisors LLC bought a new stake in Lockheed Martin Corporation (NYSE:LMT – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,313 shares of the aerospace company’s stock, valued at approximately $2,197,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of LMT. Cerro Pacific Wealth Advisors LLC boosted its stake in shares of Lockheed Martin by 1.2% during 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 holdings in Lockheed Martin by 0.9% during the fourth quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company’s stock worth $839,000 after purchasing an additional 16 shares during the last quarter. Davis R M Inc. boosted its position in Lockheed Martin by 1.3% during the fourth quarter. Davis R M Inc. now owns 1,264 shares of the aerospace company’s stock worth $612,000 after purchasing an additional 16 shares in the last quarter. Broadway Wealth Solutions Inc. boosted its position in Lockheed Martin by 3.6% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 484 shares of the aerospace company’s stock worth $234,000 after purchasing an additional 17 shares in the last quarter. Finally, Aspire Growth Partners LLC grew its holdings in Lockheed Martin by 0.7% in the fourth quarter. Aspire Growth Partners LLC now owns 2,515 shares of the aerospace company’s stock valued at $1,217,000 after purchasing an additional 17 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin Trading Down 2.4%
Lockheed Martin stock opened at $594.26 on Tuesday. The stock has a 50-day moving average price of $544.00 and a 200 day moving average price of $576.42. Lockheed Martin Corporation has a 52 week low of $437.25 and a 52 week high of $692.00. The stock has a market cap of $137.15 billion, a PE ratio of 21.90, a P/E/G ratio of 1.04 and a beta of 0.10. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 2.34.
Lockheed Martin Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be paid a dividend of $3.45 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.3%. Lockheed Martin’s dividend payout ratio is presently 50.87%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. DZ Bank raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Lockheed Martin in a research report on Sunday, July 26th. Susquehanna reduced their price target on shares of Lockheed Martin from $740.00 to $700.00 and set a “positive” rating on the stock in a report on Friday, April 24th. Finally, Royal Bank Of Canada increased their price target on shares of Lockheed Martin from $575.00 to $600.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $632.39.
Read Our Latest Research Report on Lockheed Martin
Lockheed Martin Company 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.
Featured Stories
- Five stocks we like better than Lockheed Martin
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
