Smithbridge Asset Management Inc. DE Invests $5.40 Million in Lockheed Martin Co. (NYSE:LMT)

Smithbridge Asset Management Inc. DE purchased a new stake in Lockheed Martin Co. (NYSE:LMT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,083 shares of the aerospace company’s stock, valued at approximately $5,398,000.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin during the fourth quarter worth $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research note on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Trading Up 2.7%

Shares of Lockheed Martin stock opened at $468.96 on Friday. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95. The company’s fifty day simple moving average is $469.84 and its 200-day simple moving average is $470.67. The company has a market cap of $109.88 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.07 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. As a group, sell-side analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

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.