RiverPark Advisors LLC Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

RiverPark Advisors LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,535 shares of the aerospace company’s stock after purchasing an additional 77 shares during the quarter. RiverPark Advisors LLC’s holdings in Lockheed Martin were worth $698,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Peoples Bank OH boosted its position in Lockheed Martin by 16.5% during the first quarter. Peoples Bank OH now owns 522 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 74 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Lockheed Martin by 4.0% in the first quarter. Proficio Capital Partners LLC now owns 3,173 shares of the aerospace company’s stock valued at $1,443,000 after acquiring an additional 121 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Lockheed Martin in the first quarter valued at approximately $251,000. Patron Partners LLC lifted its position in shares of Lockheed Martin by 8.0% in the first quarter. Patron Partners LLC now owns 2,015 shares of the aerospace company’s stock valued at $917,000 after acquiring an additional 150 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Lockheed Martin by 2.2% in the first quarter. Whittier Trust Co. now owns 6,564 shares of the aerospace company’s stock valued at $2,986,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

LMT stock traded down $1.48 during midday trading on Tuesday, hitting $460.28. 537,158 shares of the company’s stock were exchanged, compared to its average volume of 1,071,212. The business has a 50-day simple moving average of $465.01 and a two-hundred day simple moving average of $451.23. 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 stock has a market capitalization of $110.44 billion, a PE ratio of 16.84, a P/E/G ratio of 4.35 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50.

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

Lockheed Martin Announces Dividend

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 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 yield of 2.74%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LMT shares. Citigroup raised their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group raised their target price on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Wells Fargo & Company raised their target price 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. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” 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 increased their price target for the company from $475.00 to $518.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.