Red Door Wealth Management LLC Has $3.92 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Red Door Wealth Management LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,615 shares of the aerospace company’s stock after purchasing an additional 405 shares during the quarter. Red Door Wealth Management LLC’s holdings in Lockheed Martin were worth $3,919,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Warther Private Wealth LLC increased its position in shares of Lockheed Martin by 86.1% during the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after purchasing an additional 7,575 shares in the last quarter. Alethea Capital Management LLC bought a new stake in Lockheed Martin during the 3rd quarter worth about $415,000. Morningstar Investment Services LLC grew its holdings in Lockheed Martin by 99.6% during the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after acquiring an additional 73,774 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Lockheed Martin by 0.4% during the 4th quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock worth $3,509,000 after acquiring an additional 29 shares during the last quarter. Finally, Cercano Management LLC bought a new stake in Lockheed Martin during the 4th quarter worth about $29,454,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.0 %

NYSE LMT traded down $0.03 during trading on Friday, reaching $467.10. 3,472,549 shares of the stock traded hands, compared to its average volume of 988,980. The firm has a market cap of $112.08 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 4.40 and a beta of 0.47. The stock’s 50-day moving average price is $464.84 and its 200 day moving average price is $450.34. 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 Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the previous year, the firm posted $6.43 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. Analysts predict that Lockheed Martin Co. will post 26.17 EPS 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 paid 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 payout ratio is currently 46.10%.

Analysts Set New Price Targets

A number of brokerages have commented on LMT. UBS Group increased their price objective on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lowered their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. One 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $485.40.

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.