Sonora Investment Management Group LLC Has $18 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Sonora Investment Management Group LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,287 shares of the aerospace company’s stock after acquiring an additional 1,385 shares during the period. Lockheed Martin comprises 1.4% of Sonora Investment Management Group LLC’s holdings, making the stock its 21st largest holding. Sonora Investment Management Group LLC’s holdings in Lockheed Martin were worth $17,997,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at about $35,000. Redwood Park Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Lockheed Martin in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.2%

Lockheed Martin stock opened at $480.88 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The firm has a market capitalization of $112.67 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.07 and a beta of 0.29. The firm has a 50 day simple moving average of $468.12 and a 200 day simple moving average of $471.09.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. On average, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.74%. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Analyst Ratings Changes

Several brokerages have recently commented on LMT. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $541.80.

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