Brandywine Global Investment Management LLC Has $172.43 Million Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Brandywine Global Investment Management LLC increased its stake in Lockheed Martin Corp by 17.1%, acquiring an additional 56,335 shares to reach a total of 386,007 shares.
• Lockheed Martin reported earnings of $7.29 per share for the latest quarter, exceeding analysts' estimates, but its revenue of $18.16 billion fell slightly short of expectations.
• Several analysts have recently revised their price targets for Lockheed Martin, with Truist Financial lowering it from $554.00 to $440.00 and UBS reducing it from $498.00 to $453.00.

Brandywine Global Investment Management LLC raised its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 386,007 shares of the aerospace company's stock after acquiring an additional 56,335 shares during the period. Lockheed Martin accounts for about 1.2% of Brandywine Global Investment Management LLC's investment portfolio, making the stock its 17th biggest holding. Brandywine Global Investment Management LLC owned about 0.16% of Lockheed Martin worth $172,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. 49 Wealth Management LLC lifted its position in Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after acquiring an additional 22 shares during the period. OMNI 360 Wealth Inc. lifted its stake in Lockheed Martin by 2.5% in 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. lifted its stake in shares of Lockheed Martin by 0.4% during the first 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 during the period. Southland Equity Partners LLC lifted its stake in shares of 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 stake in shares of 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 purchasing an additional 23 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Up 0.1%

LMT traded up $0.46 on Friday, reaching $437.78. 1,500,331 shares of the company traded hands, compared to its average volume of 2,393,762. The stock's 50 day moving average price is $451.63 and its 200-day moving average price is $456.76. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The company has a market cap of $102.20 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.54 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping 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 company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the business earned $7.11 EPS. The business's quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LMT shares. Royal Bank Of Canada dropped their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Robert W. Baird dropped their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Finally, TD Cowen reissued a "hold" rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $506.65.

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.