Alpine Bank Wealth Management Takes Position in Lockheed Martin Corporation (NYSE:LMT)

by · The Cerbat Gem

Alpine Bank Wealth Management acquired a new stake in Lockheed Martin Corporation (NYSE:LMT – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,292 shares of the aerospace company’s stock, valued at approximately $577,000.

Several other large investors also recently modified their holdings of the stock. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 2.5%

Shares of LMT stock opened at $460.63 on Wednesday. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a 50-day simple moving average of $471.38 and a two-hundred day simple moving average of $467.58. The company has a market capitalization of $107.93 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.65 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its 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 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS 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 paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s payout ratio is currently 57.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented 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 report on Wednesday, April 16th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Wells Fargo & Company reduced their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

View Our Latest Stock Report on Lockheed Martin

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.

Featured Articles

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).