Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 12.1% in the first quarter, HoldingsChannel.com reports. The firm owned 1,852 shares of the aerospace company’s stock after acquiring an additional 200 shares during the period. Portside Wealth Group LLC’s holdings in Lockheed Martin were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. LaFleur & Godfrey LLC grew its position in shares of Lockheed Martin by 18.0% during the 4th quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company’s stock valued at $562,000 after buying an additional 176 shares during the last quarter. Eagle Capital Management LLC lifted its holdings in 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 acquiring an additional 32 shares during the last quarter. Brighton Jones LLC boosted its stake in Lockheed Martin by 5.0% in the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after acquiring an additional 191 shares during the period. Hudson Portfolio Management LLC acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $256,000. Finally, Vest Financial LLC grew its holdings in shares of Lockheed Martin by 9.7% during the fourth quarter. Vest Financial LLC now owns 2,146 shares of the aerospace company’s stock valued at $1,043,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.2%

Lockheed Martin stock opened at $480.88 on Tuesday. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The stock has a market cap of $112.67 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.07 and a beta of 0.29. The company’s 50-day moving average price is $468.12 and its two-hundred day moving average price is $471.09. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. On average, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price on the stock in a research note on Wednesday, April 23rd. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group increased their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Finally, Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $541.80.

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.