Meyer Handelman Co. Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Meyer Handelman Co. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,649 shares of the aerospace company’s stock after buying an additional 764 shares during the period. Meyer Handelman Co.’s holdings in Lockheed Martin were worth $2,115,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the fourth quarter worth $26,000. Activest Wealth Management raised its stake in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after buying an additional 60 shares during the period. Providence Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the third quarter valued at $35,000. Iron Horse Wealth Management LLC raised its stake in shares of Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after buying an additional 77 shares during the period. Finally, TFC Financial Management Inc. raised its stake in shares of Lockheed Martin by 206.9% in the fourth quarter. TFC Financial Management Inc. now owns 89 shares of the aerospace company’s stock valued at $40,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.3 %

LMT opened at $467.60 on Friday. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The firm has a market capitalization of $112.20 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.39 and a beta of 0.47. The business has a 50 day simple moving average of $463.71 and a two-hundred day simple moving average of $449.69. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the prior year, the company earned $6.43 EPS. The business’s revenue was up 13.7% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analyst Ratings Changes

Several analysts have issued reports on LMT shares. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Citigroup boosted their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Finally, UBS Group boosted their price objective on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Company Profile

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.