Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Meyer Handelman Co.

Meyer Handelman Co. grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 19.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,649 shares of the aerospace company’s stock after purchasing an additional 764 shares during the quarter. Meyer Handelman Co.’s holdings in Lockheed Martin were worth $2,115,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LMT. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after buying an additional 1,349,409 shares during the period. Franklin Resources Inc. raised its stake in Lockheed Martin by 14.9% during 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. Confluence Investment Management LLC purchased a new position in Lockheed Martin during the first quarter worth approximately $151,402,000. Vanguard Group Inc. raised its stake in Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after purchasing an additional 279,162 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after purchasing an additional 274,680 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on LMT. The Goldman Sachs Group cut their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, UBS Group raised their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given 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 a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $467.60 on Friday. The firm has a fifty day simple moving average of $463.71 and a 200-day simple moving average of $449.69. 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 Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The stock has a market capitalization of $112.20 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.39 and a beta of 0.47.

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

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, June 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.