Benedict Financial Advisors Inc. Has $5.03 Million Position in Lockheed Martin Corporation (NYSE:LMT)

Benedict Financial Advisors Inc. increased its stake in Lockheed Martin Corporation (NYSE:LMT) by 1.9% in the 1st quarter, Holdings Channel reports. The firm owned 11,257 shares of the aerospace company’s stock after purchasing an additional 207 shares during the period. Lockheed Martin accounts for approximately 1.2% of Benedict Financial Advisors Inc.’s holdings, making the stock its 26th biggest position. Benedict Financial Advisors Inc.’s holdings in Lockheed Martin were worth $5,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the 1st quarter valued at $31,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $40,000. Banque Transatlantique SA acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $43,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin during the 1st quarter worth about $43,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LMT shares. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Vertical Research reaffirmed a “hold” rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday. Finally, Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $506.65.

Lockheed Martin Stock Up 0.3%

LMT stock opened at $420.77 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The business has a 50 day moving average price of $466.72 and a two-hundred day moving average price of $463.00. The company has a market cap of $98.59 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.83 and a beta of 0.28. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.11 earnings per share. Analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.14%. Lockheed Martin’s dividend payout ratio is 74.32%.

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.