Allspring Global Investments Holdings LLC Has $88.06 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Allspring Global Investments Holdings LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 17.4% in the first quarter, Holdings Channel reports. The firm owned 193,600 shares of the aerospace company’s stock after buying an additional 28,697 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lockheed Martin were worth $88,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Warther Private Wealth LLC grew its holdings in shares of Lockheed Martin by 86.1% in the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock valued at $7,419,000 after buying an additional 7,575 shares during the period. Alethea Capital Management LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth about $415,000. Morningstar Investment Services LLC lifted its holdings in shares of Lockheed Martin by 99.6% during the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after purchasing an additional 73,774 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Lockheed Martin by 0.4% in the 4th quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock valued at $3,509,000 after purchasing an additional 29 shares during the period. Finally, Cercano Management LLC bought a new stake in Lockheed Martin during the 4th quarter worth approximately $29,454,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.2 %

Shares of Lockheed Martin stock traded down $1.05 on Tuesday, reaching $465.39. 33,906 shares of the company were exchanged, compared to its average volume of 1,086,122. The company has a market capitalization of $111.67 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 4.40 and a beta of 0.46. 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 one year low of $393.77 and a one year high of $479.50. The company has a 50-day moving average of $464.84 and a 200 day moving average of $450.33.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same period in the prior year, the firm posted $6.43 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts forecast 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, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research analyst reports. Citigroup upped their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $475.00 to $518.00 in a research note on Monday, April 15th. UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased 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. Finally, The Goldman Sachs Group cut their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus target price 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.