Financial Management Network Inc. Acquires 157 Shares of Lockheed Martin Co. (NYSE:LMT)

Financial Management Network Inc. grew its stake in shares of Lockheed Martin Co. (NYSE:LMTGet Rating) by 20.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 929 shares of the aerospace company’s stock after buying an additional 157 shares during the period. Financial Management Network Inc.’s holdings in Lockheed Martin were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP bought a new stake in Lockheed Martin in the 4th quarter worth approximately $25,000. Counterpoint Mutual Funds LLC bought a new stake in Lockheed Martin in the fourth quarter worth $27,000. TAP Consulting LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at $31,000. PARK CIRCLE Co bought a new position in Lockheed Martin during the fourth quarter valued at $36,000. Finally, Horan Securities Inc. purchased a new position in shares of Lockheed Martin in the 4th quarter worth $42,000. 78.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE LMT opened at $433.52 on Friday. Lockheed Martin Co. has a twelve month low of $324.23 and a twelve month high of $479.99. The firm has a market cap of $115.36 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The business has a fifty day simple moving average of $433.15 and a two-hundred day simple moving average of $415.38. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 1.11.

Lockheed Martin (NYSE:LMTGet Rating) last announced its quarterly earnings results on Tuesday, April 19th. The aerospace company reported $6.44 EPS for the quarter, beating the consensus estimate of $6.22 by $0.22. Lockheed Martin had a return on equity of 81.35% and a net margin of 9.45%. The firm had revenue of $14.96 billion for the quarter, compared to analyst estimates of $15.49 billion. During the same quarter last year, the firm posted $6.56 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 26.84 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Thursday, September 1st will be paid a dividend of $2.80 per share. The ex-dividend date is Wednesday, August 31st. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.58%. Lockheed Martin’s dividend payout ratio is presently 49.47%.

In other Lockheed Martin news, Director John Donovan acquired 568 shares of Lockheed Martin stock in a transaction that occurred on Thursday, April 21st. The stock was bought at an average price of $440.55 per share, with a total value of $250,232.40. Following the completion of the purchase, the director now directly owns 568 shares of the company’s stock, valued at approximately $250,232.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

A number of research analysts recently commented on the stock. Seaport Res Ptn reaffirmed a “buy” rating on shares of Lockheed Martin in a report on Tuesday, April 19th. Susquehanna boosted their target price on Lockheed Martin from $515.00 to $539.00 in a research report on Wednesday, April 20th. Wells Fargo & Company raised their price target on Lockheed Martin from $486.00 to $496.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 20th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 25th. Finally, Susquehanna Bancshares lifted their price target on shares of Lockheed Martin from $515.00 to $539.00 in a research note on Wednesday, April 20th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $448.86.

Lockheed Martin Company Profile (Get Rating)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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