GGM Financials LLC Takes Position in Lockheed Martin Co. (NYSE:LMT)

GGM Financials LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 939 shares of the aerospace company’s stock, valued at approximately $420,000.

Several other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after purchasing an additional 59,597 shares during the period. Northern Trust Corp grew its position in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Invesco Ltd. grew its position in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after purchasing an additional 318,007 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after purchasing an additional 1,986,600 shares during the period. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, UBS Group increased their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Stock Performance

Shares of LMT opened at $481.49 on Friday. The firm has a market cap of $112.81 billion, a P/E ratio of 21.63, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50 day moving average price is $467.56 and its two-hundred day moving average price is $472.45.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, analysts forecast that Lockheed Martin Co. 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, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is presently 57.02%.

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.