Smith Salley & Associates Boosts Stake in Lockheed Martin Co. (LMT)

Smith Salley & Associates boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,607 shares of the aerospace company’s stock after buying an additional 545 shares during the quarter. Smith Salley & Associates’ holdings in Lockheed Martin were worth $1,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Psagot Investment House Ltd. raised its holdings in Lockheed Martin by 2.7% in the 1st quarter. Psagot Investment House Ltd. now owns 1,164 shares of the aerospace company’s stock valued at $349,000 after buying an additional 31 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in Lockheed Martin by 2.7% in the 1st quarter. Capital Investment Advisory Services LLC now owns 1,288 shares of the aerospace company’s stock valued at $387,000 after buying an additional 34 shares during the last quarter. Lederer & Associates Investment Counsel CA raised its holdings in Lockheed Martin by 0.7% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 5,149 shares of the aerospace company’s stock valued at $1,348,000 after buying an additional 35 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in Lockheed Martin by 1.4% in the 4th quarter. Belpointe Asset Management LLC now owns 2,583 shares of the aerospace company’s stock valued at $676,000 after buying an additional 35 shares during the last quarter. Finally, Physicians Financial Services Inc. raised its holdings in Lockheed Martin by 0.8% in the 4th quarter. Physicians Financial Services Inc. now owns 4,795 shares of the aerospace company’s stock valued at $1,256,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

LMT has been the subject of a number of research reports. UBS Group raised their price objective on shares of Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Bank of America reiterated a “buy” rating and issued a $400.00 price objective (up previously from $390.00) on shares of Lockheed Martin in a report on Wednesday, April 24th. Cowen reiterated a “buy” rating and issued a $360.00 price objective on shares of Lockheed Martin in a report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective for the company in a report on Thursday, April 25th. Finally, Barclays raised their price objective on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $355.13.

In other news, SVP Maryanne Lavan sold 5,515 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $306.31, for a total transaction of $1,689,299.65. Following the completion of the sale, the senior vice president now owns 6,835 shares of the company’s stock, valued at approximately $2,093,628.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David B. Burritt sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total transaction of $693,441.00. Following the sale, the director now directly owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The disclosure for this sale can be found here. Insiders have sold a total of 68,949 shares of company stock valued at $21,185,503 in the last three months. Insiders own 0.35% of the company’s stock.

NYSE:LMT opened at $343.95 on Wednesday. The company has a market cap of $95.50 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.34 and a beta of 1.04. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $351.35.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $1.70. The business had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.02 EPS. On average, sell-side analysts expect that Lockheed Martin Co. will post 20.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio is presently 49.30%.

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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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