Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. raised its position in Lockheed Martin Co. (NYSE:LMTGet Rating) by 9.1% in the 1st quarter, Holdings Channel reports. The fund owned 6,029 shares of the aerospace company’s stock after purchasing an additional 501 shares during the period. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $2,661,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP acquired a new stake in Lockheed Martin in the fourth quarter valued at $25,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $27,000. TAP Consulting LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth about $31,000. PARK CIRCLE Co bought a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $36,000. Finally, Horan Securities Inc. bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $42,000. 78.89% of the stock is currently owned by hedge funds and other institutional investors.

LMT stock opened at $415.45 on Thursday. Lockheed Martin Co. has a twelve month low of $324.23 and a twelve month high of $479.99. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The company has a market cap of $110.56 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The business’s 50-day simple moving average is $438.15 and its 200 day simple moving average is $411.54.

Lockheed Martin (NYSE:LMTGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The aerospace company reported $6.44 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.22. The company had revenue of $14.96 billion for the quarter, compared to analyst estimates of $15.49 billion. Lockheed Martin had a return on equity of 81.35% and a net margin of 9.45%. Lockheed Martin’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.56 EPS. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Wednesday, June 1st will be paid a $2.80 dividend. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, May 31st. Lockheed Martin’s dividend payout ratio is 49.47%.

LMT has been the subject of a number of analyst reports. Susquehanna Bancshares boosted their target price on shares of Lockheed Martin from $515.00 to $539.00 in a research note on Wednesday, April 20th. Wolfe Research upgraded Lockheed Martin from a “peer perform” rating to an “outperform” rating and set a $467.00 price target for the company in a research report on Monday, February 28th. Morgan Stanley boosted their target price on Lockheed Martin from $450.00 to $521.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Susquehanna raised their price objective on shares of Lockheed Martin from $515.00 to $539.00 in a research report on Wednesday, April 20th. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 25th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $448.86.

In other Lockheed Martin news, Director John Donovan bought 568 shares of the firm’s stock in a transaction dated Thursday, April 21st. The shares were acquired at an average cost of $440.55 per share, for a total transaction of $250,232.40. Following the transaction, the director now owns 568 shares in the company, valued at $250,232.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

About Lockheed Martin (Get Rating)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

Further Reading

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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