Darden Wealth Group Inc Raises Position in Lockheed Martin Corporation (NYSE:LMT)

Darden Wealth Group Inc raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 698 shares of the aerospace company’s stock after acquiring an additional 43 shares during the quarter. Darden Wealth Group Inc’s holdings in Lockheed Martin were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. First American Bank increased its holdings in Lockheed Martin by 18.8% in the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company’s stock valued at $3,749,000 after acquiring an additional 1,327 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $33,294,000. Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Lockheed Martin by 18.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company’s stock valued at $7,652,000 after acquiring an additional 2,686 shares during the last quarter. State of Wyoming increased its holdings in shares of Lockheed Martin by 93.9% in the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock worth $541,000 after buying an additional 539 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Lockheed Martin by 3.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock worth $49,893,000 after buying an additional 3,809 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on LMT shares. Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target for the company in a research note on Wednesday, April 23rd. Cowen cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Wells Fargo & Company cut 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 note on Tuesday, April 8th. Wall Street Zen lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Finally, Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the stock a “market perform” rating in a research note on Monday. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $532.69.

Lockheed Martin Price Performance

NYSE LMT traded up $1.24 during trading hours on Friday, reaching $470.44. The company’s stock had a trading volume of 103,845 shares, compared to its average volume of 1,364,178. The stock has a market cap of $110.22 billion, a PE ratio of 20.31, a PEG ratio of 1.65 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company’s 50-day moving average is $469.56 and its two-hundred day moving average is $464.56. 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) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. The company 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%. Analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Lockheed Martin Company Profile

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.