QRG Capital Management Inc. Increases Position in Lockheed Martin Co. (NYSE:LMT)

QRG Capital Management Inc. grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 50,042 shares of the aerospace company’s stock after buying an additional 2,823 shares during the period. QRG Capital Management Inc.’s holdings in Lockheed Martin were worth $24,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sunburst Financial Group LLC raised its holdings in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after buying an additional 18 shares during the last quarter. Lmcg Investments LLC raised its holdings in shares of Lockheed Martin by 3.0% in the third quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock valued at $381,000 after buying an additional 19 shares during the last quarter. Klingman & Associates LLC raised its holdings in shares of Lockheed Martin by 1.1% in the third quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock valued at $1,011,000 after buying an additional 19 shares during the last quarter. Platform Technology Partners raised its holdings in Lockheed Martin by 0.5% during the third quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock worth $2,409,000 after purchasing an additional 19 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Lockheed Martin by 1.3% during the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after purchasing an additional 19 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Morgan Stanley cut their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group cut their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $441.56 on Thursday. The company’s fifty day simple moving average is $467.23 and its 200-day simple moving average is $526.63. Lockheed Martin Co. has a 52 week low of $419.70 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. The company has a market cap of $103.94 billion, a PE ratio of 19.84, a P/E/G ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Lockheed Martin 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.