Oak Asset Management LLC Takes Position in Lockheed Martin Co. (NYSE:LMT)

Oak Asset Management LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the first quarter, Holdings Channel.com reports. The firm purchased 1,812 shares of the aerospace company’s stock, valued at approximately $824,000.

A number of other hedge funds have also added to or reduced their stakes in LMT. International Assets Investment Management LLC boosted its stake in Lockheed Martin by 10,526.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after purchasing an additional 1,349,409 shares during the last quarter. Franklin Resources Inc. boosted its stake in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $151,402,000. Vanguard Group Inc. lifted its position in shares of Lockheed Martin by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after buying an additional 279,162 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.0 %

NYSE:LMT 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 stock has a market capitalization of $112.08 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The firm’s 50 day moving average is $464.84 and its 200 day moving average is $450.33. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter in the previous year, the firm posted $6.43 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s payout ratio is 46.10%.

Analyst Upgrades and Downgrades

Several research firms have commented on LMT. Wells Fargo & Company lifted their target price 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. UBS Group lifted their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group dropped 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 report on Tuesday, April 23rd. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and a consensus 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.