Legacy Wealth Asset Management LLC Grows Position in Lockheed Martin Co. (NYSE:LMT)

Legacy Wealth Asset Management LLC grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,595 shares of the aerospace company’s stock after purchasing an additional 40 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Lockheed Martin were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after buying an additional 279,162 shares during the period. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after buying an additional 121,358 shares during the period. Franklin Resources Inc. increased its position in shares of Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after acquiring an additional 336,588 shares during the period. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 10,526.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after acquiring an additional 1,349,409 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Lockheed Martin by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after acquiring an additional 27,349 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Citigroup upped their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, UBS Group upped their target price on Lockheed Martin from $482.00 to $499.00 and gave the stock 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 issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $485.40.

Lockheed Martin Trading Up 0.1 %

Shares of NYSE:LMT opened at $466.03 on Friday. The business’s 50 day moving average price is $465.21 and its 200-day moving average price is $450.86. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50. The firm has a market capitalization of $111.82 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 4.39 and a beta of 0.46. 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, beating the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $6.43 earnings per share. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. Lockheed Martin’s payout ratio is currently 46.10%.

Lockheed Martin 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.