Cornerstone Wealth Group LLC Acquires New Shares in Lockheed Martin Co. (NYSE:LMT)

Cornerstone Wealth Group LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,555 shares of the aerospace company’s stock, valued at approximately $707,000.

Other hedge funds have also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the 4th quarter valued at approximately $26,000. Activest Wealth Management grew its position in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 60 shares during the period. Iron Horse Wealth Management LLC grew its position in shares of Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 77 shares during the period. Thompson Investment Management Inc. purchased a new stake in shares of Lockheed Martin in the first quarter valued at $38,000. Finally, TFC Financial Management Inc. boosted its holdings in Lockheed Martin by 206.9% in the fourth quarter. TFC Financial Management Inc. now owns 89 shares of the aerospace company’s stock valued at $40,000 after acquiring an additional 60 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.0 %

Shares of Lockheed Martin stock opened at $467.10 on Monday. 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 business’s 50 day simple moving average is $464.84 and its 200-day simple moving average is $450.33. The stock has a market capitalization of $112.08 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month 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, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion for 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 business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $6.43 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.70%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LMT shares. Wells Fargo & Company boosted their price target 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. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped 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. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $485.40.

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.