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1834 Investment Advisors Co. Lowers Holdings in Lockheed Martin Corporation (NYSE:LMT)

Lockheed Martin logo with Aerospace background

Key Points

  • 1834 Investment Advisors Co. reduced its holdings in Lockheed Martin Corporation by 12.3%, selling 1,774 shares and bringing its total to 12,604 shares, valued at approximately $5.63 million.
  • Lockheed Martin recently declared a quarterly dividend of $3.30, which is set to be paid to shareholders on September 26, representing a 3.0% yield.
  • Despite a slight decline in quarterly revenue, Lockheed Martin reported an earnings per share (EPS) of $7.29, exceeding analysts' expectations by $0.72.
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1834 Investment Advisors Co. lowered its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 12.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,604 shares of the aerospace company's stock after selling 1,774 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Lockheed Martin were worth $5,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. 49 Wealth Management LLC grew its position in shares of Lockheed Martin by 3.4% during the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after purchasing an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. grew its holdings in Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after buying an additional 22 shares in the last quarter. Tealwood Asset Management Inc. grew its holdings in Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after buying an additional 23 shares in the last quarter. Southland Equity Partners LLC grew its holdings in Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after buying an additional 23 shares in the last quarter. Finally, Nvest Financial LLC grew its stake in Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock valued at $1,617,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LMT shares. Jefferies Financial Group cut their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Robert W. Baird cut their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and cut their price objective for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. UBS Group cut their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $506.65.

Get Our Latest Analysis on LMT

Lockheed Martin Trading Down 1.2%

LMT traded down $5.07 during trading hours on Friday, reaching $425.68. 1,477,499 shares of the company's stock traded hands, compared to its average volume of 2,270,781. The firm has a 50-day moving average price of $456.14 and a 200 day moving average price of $458.67. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market capitalization of $99.38 billion, a PE ratio of 23.97, a PEG ratio of 1.51 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. Lockheed Martin's revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.11 EPS. As a group, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

Lockheed Martin Company Profile

(Free Report)

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.

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

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