Prosperitas Financial LLC boosted its holdings in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,546 shares of the aerospace company’s stock after purchasing an additional 1,652 shares during the quarter. Lockheed Martin comprises 1.6% of Prosperitas Financial LLC’s investment portfolio, making the stock its 23rd largest holding. Prosperitas Financial LLC’s holdings in Lockheed Martin were worth $4,864,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of LMT. IAG Wealth Partners LLC grew its position in Lockheed Martin by 4,800.0% during the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 48 shares during the last quarter. Burnham & Co LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $25,000. United Financial Planning Group LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at about $25,000. Basso Capital Management L.P. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $25,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 74.19% of the company’s stock.
Lockheed Martin Trading Down 0.4%
Shares of Lockheed Martin stock opened at $563.82 on Friday. The firm has a market cap of $130.12 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10. Lockheed Martin Corporation has a 52-week low of $437.25 and a 52-week high of $692.00. The company’s 50-day simple moving average is $551.70 and its 200-day simple moving average is $573.75. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 2.34.
Lockheed Martin Announces Dividend
The firm also recently announced 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 dividend on an annualized basis 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%.
Analyst Ratings Changes
Several equities analysts recently issued reports on LMT shares. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. UBS Group reiterated a “neutral” rating and issued a $581.00 target price on shares of Lockheed Martin in a research note on Friday, July 24th. Jefferies Financial Group reissued a “hold” rating on shares of Lockheed Martin in a report on Sunday, July 26th. TD Cowen cut 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, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Lockheed Martin in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus price target 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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