Chemung Canal Trust Co. Acquires 73 Shares of Lockheed Martin Co. (NYSE:LMT)

Chemung Canal Trust Co. boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,199 shares of the aerospace company’s stock after buying an additional 73 shares during the period. Chemung Canal Trust Co.’s holdings in Lockheed Martin were worth $1,000,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. purchased a new stake in Lockheed Martin during the first quarter valued at about $2,157,000. Grimes & Company Inc. raised its position in Lockheed Martin by 4.7% during the first quarter. Grimes & Company Inc. now owns 17,805 shares of the aerospace company’s stock valued at $8,099,000 after purchasing an additional 802 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Lockheed Martin by 4.9% in the first quarter. MCF Advisors LLC now owns 1,134 shares of the aerospace company’s stock worth $516,000 after buying an additional 53 shares during the period. Trifecta Capital Advisors LLC increased its holdings in shares of Lockheed Martin by 6.8% in the first quarter. Trifecta Capital Advisors LLC now owns 8,289 shares of the aerospace company’s stock worth $3,771,000 after buying an additional 530 shares during the period. Finally, Avity Investment Management Inc. increased its holdings in shares of Lockheed Martin by 21.0% in the first quarter. Avity Investment Management Inc. now owns 548 shares of the aerospace company’s stock worth $249,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group lifted their price objective on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Citigroup lifted their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group reduced their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $485.40.

Lockheed Martin Stock Down 0.0 %

Shares of Lockheed Martin stock opened at $467.10 on Friday. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The company has a 50-day moving average of $464.84 and a 200 day moving average of $450.34. The firm has a market cap 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 (NYSE:LMT) last announced its 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 business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter last year, the firm earned $6.43 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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