Lockheed Martin Co. (NYSE:LMT) Shares Bought by Grimes & Company Inc.

Grimes & Company Inc. boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,805 shares of the aerospace company’s stock after purchasing an additional 802 shares during the period. Grimes & Company Inc.’s holdings in Lockheed Martin were worth $8,099,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. MCF Advisors LLC grew its position in shares of Lockheed Martin by 4.9% during the 1st quarter. MCF Advisors LLC now owns 1,134 shares of the aerospace company’s stock valued at $516,000 after acquiring an additional 53 shares during the period. Trifecta Capital Advisors LLC grew its position in shares of Lockheed Martin by 6.8% during the 1st quarter. Trifecta Capital Advisors LLC now owns 8,289 shares of the aerospace company’s stock valued at $3,771,000 after acquiring an additional 530 shares during the period. Avity Investment Management Inc. grew its position in shares of Lockheed Martin by 21.0% during the 1st quarter. Avity Investment Management Inc. now owns 548 shares of the aerospace company’s stock valued at $249,000 after acquiring an additional 95 shares during the period. Independence Bank of Kentucky grew its position in shares of Lockheed Martin by 11.5% during the 1st quarter. Independence Bank of Kentucky now owns 2,394 shares of the aerospace company’s stock valued at $1,089,000 after acquiring an additional 247 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its holdings in Lockheed Martin by 13.4% in the 1st quarter. S.E.E.D. Planning Group LLC now owns 10,526 shares of the aerospace company’s stock worth $4,788,000 after buying an additional 1,240 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on LMT shares. Deutsche Bank Aktiengesellschaft upped their price objective on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Citigroup upped their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their target price on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. The Goldman Sachs Group dropped their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Stock Down 0.0 %

Shares of LMT traded down $0.03 during mid-day trading on Friday, hitting $467.10. 3,472,549 shares of the company’s stock were exchanged, compared to its average volume of 988,980. The firm has a fifty day moving average of $464.84 and a two-hundred day moving average of $450.34. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $479.50. The stock has a market cap of $112.08 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 4.40 and a beta of 0.47. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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. The business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. Lockheed Martin’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.43 EPS. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

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.