Gries Financial LLC Buys 50 Shares of Lockheed Martin Co. (NYSE:LMT)

Gries Financial LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 7.2% in the fourth quarter, Holdings Channel reports. The fund owned 743 shares of the aerospace company’s stock after acquiring an additional 50 shares during the quarter. Gries Financial LLC’s holdings in Lockheed Martin were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the third quarter worth about $26,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin during the third quarter valued at $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the third quarter worth $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $459.12 on Friday. The business has a 50-day simple moving average of $495.56 and a 200 day simple moving average of $536.97. The firm has a market capitalization of $108.83 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. On average, research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LMT. Robert W. Baird raised their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.60.

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.