W1M Asset Management Ltd purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 4,005 shares of the aerospace company’s stock, valued at approximately $2,038,000.
A number of other hedge funds have also modified their holdings of LMT. Cerro Pacific Wealth Advisors LLC lifted 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 valued at $665,000 after buying an additional 16 shares in the last quarter. Garner Asset Management Corp lifted its position in shares of Lockheed Martin by 0.9% in the fourth quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company’s stock valued at $839,000 after acquiring an additional 16 shares in the last quarter. Davis R M Inc. boosted its stake in shares of Lockheed Martin by 1.3% in the fourth quarter. Davis R M Inc. now owns 1,264 shares of the aerospace company’s stock worth $612,000 after acquiring an additional 16 shares during the period. Broadway Wealth Solutions Inc. grew its position in shares of 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 raised its stake in Lockheed Martin by 0.7% during the 4th 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 period. 74.19% of the stock is currently owned by institutional investors.
Lockheed Martin Stock Down 1.2%
Shares of NYSE LMT opened at $564.61 on Friday. 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 Corporation has a 12-month low of $437.25 and a 12-month high of $692.00. The firm’s 50-day moving average price is $547.80 and its 200-day moving average price is $575.73. The stock has a market capitalization of $130.31 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 0.10.
Lockheed Martin Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin’s dividend payout ratio is presently 50.87%.
Wall Street Analyst Weigh In
Several research firms have weighed in on LMT. Sanford C. Bernstein restated a “market perform” rating on shares of Lockheed Martin in a research note on Friday, May 29th. DZ Bank upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings raised Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, UBS Group restated a “neutral” rating and set a $581.00 price target on shares of Lockheed Martin in a 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $632.39.
Read Our Latest Stock Analysis 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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