Powers Advisory Group LLC Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Powers Advisory Group LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,499 shares of the aerospace company’s stock after selling 48 shares during the quarter. Lockheed Martin accounts for 1.0% of Powers Advisory Group LLC’s portfolio, making the stock its 20th biggest holding. Powers Advisory Group LLC’s holdings in Lockheed Martin were worth $2,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Elevation Point Wealth Partners LLC boosted its position in Lockheed Martin by 34.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 2,430 shares of the aerospace company’s stock worth $1,086,000 after purchasing an additional 617 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Lockheed Martin by 9.8% during the first quarter. Salem Investment Counselors Inc. now owns 1,075 shares of the aerospace company’s stock worth $480,000 after purchasing an additional 96 shares in the last quarter. Argus Investors Counsel Inc. boosted its position in Lockheed Martin by 10.2% during the first quarter. Argus Investors Counsel Inc. now owns 464 shares of the aerospace company’s stock worth $207,000 after purchasing an additional 43 shares in the last quarter. Stanley Laman Group Ltd. boosted its position in Lockheed Martin by 3.7% during the first quarter. Stanley Laman Group Ltd. now owns 8,212 shares of the aerospace company’s stock worth $3,669,000 after purchasing an additional 290 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its position in Lockheed Martin by 8.7% during the first quarter. Everhart Financial Group Inc. now owns 1,468 shares of the aerospace company’s stock worth $656,000 after purchasing an additional 118 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group boosted their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group cut their price target on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Finally, Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $485.75 on Friday. The firm has a market capitalization of $113.81 billion, a P/E ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. The stock has a fifty day moving average price of $470.72 and a 200 day moving average price of $470.42. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The firm 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 101.47% and a net margin of 7.51%. Equities research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.72%. Lockheed Martin’s dividend payout ratio is presently 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.