Ledyard National Bank Has $2.66 Million Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

by · The Cerbat Gem

Ledyard National Bank lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,955 shares of the aerospace company’s stock after buying an additional 219 shares during the quarter. Ledyard National Bank’s holdings in Lockheed Martin were worth $2,660,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $35,000. Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $472.16 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95. The firm has a market cap of $110.63 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.64 and a beta of 0.29. The company’s 50-day moving average price is $471.56 and its two-hundred day moving average price is $467.62.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating 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 firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. On average, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.80%. Lockheed Martin’s payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LMT shares. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $685.00 to $485.00 in a research 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 research report on Monday, April 28th. Wells Fargo & Company lowered their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Check Out Our Latest Stock Analysis on Lockheed Martin

About Lockheed Martin

(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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