Cornerstone Wealth Management LLC Purchases 507 Shares of Lockheed Martin Co. (NYSE:LMT)

Cornerstone Wealth Management LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 23.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,627 shares of the aerospace company’s stock after purchasing an additional 507 shares during the period. Cornerstone Wealth Management LLC’s holdings in Lockheed Martin were worth $1,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KPP Advisory Services LLC bought a new stake in Lockheed Martin during the third quarter worth $371,000. Jackson Wealth Management LLC boosted its holdings in shares of Lockheed Martin by 2.8% in the 3rd quarter. Jackson Wealth Management LLC now owns 20,062 shares of the aerospace company’s stock worth $8,205,000 after buying an additional 553 shares during the last quarter. Seven Eight Capital LP bought a new position in Lockheed Martin during the third quarter valued at about $1,353,000. Royal London Asset Management Ltd. grew its position in Lockheed Martin by 2.3% during the third quarter. Royal London Asset Management Ltd. now owns 87,178 shares of the aerospace company’s stock valued at $35,675,000 after buying an additional 1,999 shares during the period. Finally, Cito Capital Group LLC increased its holdings in Lockheed Martin by 7.7% during the third quarter. Cito Capital Group LLC now owns 1,400 shares of the aerospace company’s stock worth $573,000 after buying an additional 100 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT opened at $466.03 on Friday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The stock has a market capitalization of $111.82 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 4.39 and a beta of 0.46. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $479.50. The stock’s 50-day simple moving average is $465.21 and its 200 day simple moving average is $450.86.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.43 earnings per share. Research analysts forecast that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $475.00 to $518.00 in a research note on Monday, April 15th. The Goldman Sachs Group cut their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Finally, UBS Group boosted their price objective on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.