Lockheed Martin Corporation (NYSE:LMT) Shares Acquired by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida increased its position in Lockheed Martin Corporation (NYSE:LMT) by 13.0% during the first quarter, HoldingsChannel.com reports. The fund owned 1,979 shares of the aerospace company’s stock after acquiring an additional 227 shares during the quarter. Lockheed Martin accounts for approximately 0.8% of Canandaigua National Trust Co of Florida’s holdings, making the stock its 29th largest holding. Canandaigua National Trust Co of Florida’s holdings in Lockheed Martin were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. Private Portfolio Partners LLC grew its holdings in shares of Lockheed Martin by 4.8% in the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company’s stock worth $244,000 after acquiring an additional 23 shares during the period. Tealwood Asset Management Inc. grew its holdings in Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company’s stock valued at $2,559,000 after buying an additional 23 shares during the last quarter. Southland Equity Partners LLC grew its holdings in Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company’s stock valued at $342,000 after buying an additional 23 shares during the last quarter. Nvest Financial LLC grew its holdings in Lockheed Martin by 0.6% during the 1st quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company’s stock valued at $1,617,000 after buying an additional 23 shares during the last quarter. Finally, Reston Wealth Management LLC grew its holdings in Lockheed Martin by 4.5% during the 1st quarter. Reston Wealth Management LLC now owns 533 shares of the aerospace company’s stock valued at $238,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price 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. Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada cut Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Nine research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Performance

LMT opened at $458.59 on Monday. The firm has a market cap of $107.45 billion, a PE ratio of 19.81, a P/E/G ratio of 1.60 and a beta of 0.29. 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 business has a fifty day simple moving average of $470.80 and a 200-day simple moving average of $466.31. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.