Lockheed Martin Co. (NYSE:LMT) Stock Position Lifted by Vicus Capital

Vicus Capital grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,388 shares of the aerospace company’s stock after buying an additional 212 shares during the period. Vicus Capital’s holdings in Lockheed Martin were worth $1,086,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Chemung Canal Trust Co. lifted its holdings in shares of Lockheed Martin by 3.4% in the 1st quarter. Chemung Canal Trust Co. now owns 2,199 shares of the aerospace company’s stock worth $1,000,000 after purchasing an additional 73 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Lockheed Martin during the 1st quarter valued at $2,157,000. Grimes & Company Inc. raised its stake in Lockheed Martin by 4.7% during the 1st quarter. Grimes & Company Inc. now owns 17,805 shares of the aerospace company’s stock valued at $8,099,000 after acquiring an additional 802 shares in the last quarter. MCF Advisors LLC raised its stake in 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 in the last quarter. Finally, Trifecta Capital Advisors LLC raised its stake in 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 in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

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

Lockheed Martin Stock Down 0.0 %

NYSE:LMT opened at $467.10 on Friday. The firm has a market capitalization of $112.08 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 4.40 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The business’s fifty day moving average price is $464.84 and its 200 day moving average price is $450.34.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. Lockheed Martin’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.43 earnings per share. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

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

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.