Harbor Investment Advisory LLC Has $1.37 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Harbor Investment Advisory LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 17.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,016 shares of the aerospace company’s stock after selling 644 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Lockheed Martin were worth $1,372,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Global Assets Advisory LLC bought a new position in shares of Lockheed Martin during the first quarter worth about $73,985,000. Southland Equity Partners LLC raised its holdings in Lockheed Martin by 33.2% during the 1st quarter. Southland Equity Partners LLC now owns 959 shares of the aerospace company’s stock worth $436,000 after purchasing an additional 239 shares during the last quarter. Range Financial Group LLC lifted its position in shares of Lockheed Martin by 28.1% in the 1st quarter. Range Financial Group LLC now owns 2,159 shares of the aerospace company’s stock worth $982,000 after purchasing an additional 474 shares during the period. Traynor Capital Management Inc. boosted its stake in shares of Lockheed Martin by 4.8% in the 1st quarter. Traynor Capital Management Inc. now owns 8,797 shares of the aerospace company’s stock valued at $4,002,000 after purchasing an additional 406 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Lockheed Martin by 2.5% during the first quarter. AdvisorNet Financial Inc now owns 7,936 shares of the aerospace company’s stock worth $3,610,000 after buying an additional 195 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their target price on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Citigroup lifted their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Up 0.8 %

NYSE LMT traded up $3.91 during trading hours on Monday, hitting $471.51. The company’s stock had a trading volume of 1,027,372 shares, compared to its average volume of 1,085,594. The company has a market capitalization of $113.13 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 4.39 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The company’s 50-day simple moving average is $463.71 and its two-hundred day simple moving average is $449.69.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter in the previous year, the firm earned $6.43 earnings per share. Lockheed Martin’s quarterly revenue was up 13.7% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 $3.15 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.67%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.