516,441 Shares in Lockheed Martin Corporation (NYSE:LMT) Purchased by Nuveen LLC

Key Points

• Nuveen LLC purchased 516,441 shares of Lockheed Martin, valued at approximately $221.79 million, representing about 0.22% of the company's stock.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $3.30 per share.
• Research analysts have set a consensus hold rating for Lockheed Martin, with an average price target of $506.65 for the stock.

Nuveen LLC acquired a new position in Lockheed Martin Corporation (NYSE:LMT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 516,441 shares of the aerospace company's stock, valued at approximately $221,790,000. Nuveen LLC owned about 0.22% of Lockheed Martin at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. 49 Wealth Management LLC raised its holdings in 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. raised its holdings in Lockheed Martin by 2.5% during the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after purchasing an additional 22 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in Lockheed Martin by 0.4% during the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after purchasing an additional 23 shares in the last quarter. Southland Equity Partners LLC raised its holdings in Lockheed Martin by 3.1% during the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after purchasing an additional 23 shares in the last quarter. Finally, Nvest Financial LLC raised its holdings in Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock worth $1,617,000 after purchasing an additional 23 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Vertical Research restated a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $506.65.

Lockheed Martin Stock Down 1.2%

Shares of NYSE LMT opened at $425.68 on Monday. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The firm's 50 day moving average price is $456.14 and its 200 day moving average price is $458.12. The firm has a market cap of $99.38 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the business earned $7.11 earnings per share. Lockheed Martin's revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Corporation 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, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 3.1%. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

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.

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