Meyer Handelman Co. Acquires 375 Shares of Lockheed Martin Co. (NYSE:LMT)

Meyer Handelman Co. increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,892 shares of the aerospace company’s stock after purchasing an additional 375 shares during the quarter. Meyer Handelman Co.’s holdings in Lockheed Martin were worth $2,632,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LMT. PBMares Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 0.6% in the fourth quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after acquiring an additional 22 shares during the last quarter. Nvwm LLC lifted its holdings in shares of Lockheed Martin by 2.5% in the fourth quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock worth $441,000 after acquiring an additional 22 shares during the last quarter. Schear Investment Advisers LLC lifted its holdings in shares of Lockheed Martin by 2.0% in the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock worth $557,000 after acquiring an additional 22 shares during the last quarter. SYM FINANCIAL Corp lifted its holdings in shares of Lockheed Martin by 5.6% in the fourth quarter. SYM FINANCIAL Corp now owns 434 shares of the aerospace company’s stock worth $211,000 after acquiring an additional 23 shares during the last quarter. Finally, Leisure Capital Management lifted its holdings in shares of Lockheed Martin by 0.8% in the fourth quarter. Leisure Capital Management now owns 2,970 shares of the aerospace company’s stock worth $1,443,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Wells Fargo & Company dropped 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 report on Tuesday, April 8th. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Stock Performance

NYSE:LMT opened at $481.30 on Friday. The company has a market capitalization of $112.77 billion, a PE ratio of 21.62, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a 50 day simple moving average of $464.02 and a two-hundred day simple moving average of $473.91. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. 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 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. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

About Lockheed Martin

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.