Oppenheimer Asset Management Inc. Grows Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

by · The Markets Daily

Oppenheimer Asset Management Inc. grew its holdings in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,978 shares of the aerospace company’s stock after acquiring an additional 25 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lockheed Martin were worth $11,605,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.3%

Shares of NYSE:LMT opened at $472.16 on Tuesday. The firm’s 50 day moving average price is $471.56 and its 200 day moving average price is $467.62. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The stock has a market cap of $110.63 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. As a group, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed 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 is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.80%. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Nine 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 data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

Read Our Latest Stock Analysis 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.

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