FORVIS Wealth Advisors LLC Acquires 109 Shares of Lockheed Martin Co. (NYSE:LMT)

FORVIS Wealth Advisors LLC increased its stake in Lockheed Martin Co. (NYSE:LMT) by 10.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,113 shares of the aerospace company’s stock after acquiring an additional 109 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Lockheed Martin were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Seven Eight Capital LP bought a new stake in Lockheed Martin in the third quarter worth about $1,353,000. Royal London Asset Management Ltd. increased its holdings 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. Baker Avenue Asset Management LP raised its holdings in Lockheed Martin by 97.5% in the third quarter. Baker Avenue Asset Management LP now owns 553 shares of the aerospace company’s stock worth $226,000 after purchasing an additional 273 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Lockheed Martin by 4.8% in the third quarter. Crestwood Advisors Group LLC now owns 3,228 shares of the aerospace company’s stock worth $1,320,000 after purchasing an additional 149 shares during the last quarter. Finally, Dana Investment Advisors Inc. increased its position in shares of Lockheed Martin by 3.5% during the third quarter. Dana Investment Advisors Inc. now owns 2,118 shares of the aerospace company’s stock worth $866,000 after purchasing an additional 71 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $3.92 during midday trading on Friday, reaching $462.11. 64,283 shares of the stock were exchanged, compared to its average volume of 1,075,574. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The firm has a market cap of $110.88 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 4.39 and a beta of 0.46. The firm has a 50-day simple moving average of $465.21 and a two-hundred day simple moving average of $450.86. 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 (EPS) for the quarter, topping 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 firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period in the prior year, the firm posted $6.43 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 paid a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.73%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

About Lockheed Martin

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.