Aigen Investment Management LP Buys New Stake in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Aigen Investment Management LP has invested approximately $2.01 million in Lockheed Martin Corporation, acquiring 4,488 shares of the aerospace company.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, with a dividend yield of 3.1%, set to be paid on September 26th.
• The stock has experienced a price variance, with a 52-week low of $410.11 and a high of $618.95, while currently trading at $425.68.

Aigen Investment Management LP purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,488 shares of the aerospace company's stock, valued at approximately $2,005,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LMT. Eagle Capital Management LLC increased its position in shares of Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after acquiring an additional 32 shares in the last quarter. Brighton Jones LLC grew its position in Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares during the period. Hudson Portfolio Management LLC bought a new stake in Lockheed Martin in the 4th quarter worth approximately $256,000. Bessemer Group Inc. grew its position in Lockheed Martin by 8.9% in the 4th quarter. Bessemer Group Inc. now owns 17,369 shares of the aerospace company's stock worth $8,440,000 after purchasing an additional 1,423 shares during the period. Finally, Petros Family Wealth LLC bought a new stake in Lockheed Martin in the 4th quarter worth approximately $393,000. Institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. TD Cowen reaffirmed a "hold" rating and issued a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the stock from $554.00 to $440.00 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 note on Wednesday, April 23rd. Finally, Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $4.94 during mid-day trading on Tuesday, hitting $431.20. The stock had a trading volume of 1,491,835 shares, compared to its average volume of 1,682,009. The firm has a market capitalization of $100.67 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.49 and a beta of 0.27. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The firm's 50 day moving average is $455.09 and its 200 day moving average is $457.62. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 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.