Elser Financial Planning Inc Buys New Position in Lockheed Martin Corporation (NYSE:LMT)

by · The Cerbat Gem

Elser Financial Planning Inc bought a new stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 459 shares of the aerospace company’s stock, valued at approximately $205,000.

Other large investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $42,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on LMT. Royal Bank Of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. Jefferies Financial Group lowered their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Monday, April 28th. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $541.80.

View Our Latest Report on LMT

Lockheed Martin Trading Up 0.3%

Lockheed Martin stock opened at $470.21 on Friday. The stock has a market cap of $110.17 billion, a P/E ratio of 20.31, a PEG ratio of 1.63 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The firm’s 50 day moving average price is $471.63 and its 200-day moving average price is $468.59.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. On average, equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared 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. This represents a $13.20 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Lockheed Martin Profile

(Free Report)

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.

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