Synergy Asset Management LLC Buys 2,405 Shares of Lockheed Martin Co. (NYSE:LMT)

Synergy Asset Management LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 19.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,466 shares of the aerospace company’s stock after acquiring an additional 2,405 shares during the quarter. Lockheed Martin accounts for approximately 1.1% of Synergy Asset Management LLC’s portfolio, making the stock its 24th largest holding. Synergy Asset Management LLC’s holdings in Lockheed Martin were worth $6,580,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LMT. Vanguard Group Inc. boosted its position in Lockheed Martin by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $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% in the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after purchasing an additional 121,358 shares during the period. Franklin Resources Inc. grew its stake in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the period. International Assets Investment Management LLC raised its holdings in Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Lockheed Martin by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after buying an additional 27,349 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of a number of analyst reports. Citigroup raised their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their price objective 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. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Trading Down 0.4 %

Shares of LMT stock traded down $1.85 on Tuesday, reaching $464.59. 176,950 shares of the company’s stock were exchanged, compared to its average volume of 1,087,322. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The stock has a market capitalization of $111.47 billion, a PE ratio of 17.04, a P/E/G ratio of 4.40 and a beta of 0.46. The company’s fifty day simple moving average is $464.84 and its 200 day simple moving average is $450.33. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion for 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%. The company’s revenue for the quarter 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. As a group, analysts forecast that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 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 2.71%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 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.