Lockheed Martin Co. (NYSE:LMT) Shares Bought by Cornerstone Advisors Inc.
Cornerstone Advisors Inc. raised its stake in Lockheed Martin Co. (NYSE:LMT) by 44.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160 shares of the aerospace company’s stock after buying an additional 49 shares during the period. Cornerstone Advisors Inc.’s holdings in Lockheed Martin were worth $48,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of LMT. Vanguard Group Inc increased its stake in shares of Lockheed Martin by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after purchasing an additional 199,456 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Lockheed Martin by 77,867.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 21,125,353 shares during the last quarter. BlackRock Inc. boosted its position in Lockheed Martin by 8.2% during the fourth quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock worth $4,925,719,000 after acquiring an additional 1,426,889 shares during the last quarter. Geode Capital Management LLC boosted its position in Lockheed Martin by 25.3% during the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after acquiring an additional 691,751 shares during the last quarter. Finally, FMR LLC boosted its position in Lockheed Martin by 2.7% during the fourth quarter. FMR LLC now owns 2,727,997 shares of the aerospace company’s stock worth $714,300,000 after acquiring an additional 71,031 shares during the last quarter. 78.06% of the stock is owned by institutional investors.
Shares of LMT opened at $345.51 on Thursday. The firm has a market capitalization of $96.93 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 2.46 and a beta of 0.95. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $358.63. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 5.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $2.20 per share. The ex-dividend date is Friday, May 31st. This represents a $8.80 annualized dividend and a dividend yield of 2.55%. Lockheed Martin’s payout ratio is 49.30%.
A number of analysts recently issued reports on LMT shares. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price on the stock in a research report on Thursday, April 25th. Barclays raised their target price on shares of Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Cowen restated a “buy” rating and set a $360.00 target price on shares of Lockheed Martin in a research report on Wednesday, April 24th. Robert W. Baird raised their target price on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, UBS Group raised their target price on shares of Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $355.13.
In related news, Director David B. Burritt sold 2,100 shares of Lockheed Martin stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $330.21, for a total transaction of $693,441.00. Following the transaction, the director now owns 6,030 shares in the company, valued at approximately $1,991,166.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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