Caitong International Asset Management Co. Ltd Raises Stake in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Lockheed Martin by 10,800% during the 1st quarter, acquiring a total of 654 shares worth $292,000.
• Lockheed Martin's latest earnings report revealed $7.29 earnings per share, surpassing estimates, with revenues reaching $18.16 billion, slightly below expectations.
• The company will distribute a quarterly dividend of $3.30 on September 26th, representing an annualized yield of 3.1%, with a payout ratio currently at 74.32%.

Caitong International Asset Management Co. Ltd grew its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 10,800.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 654 shares of the aerospace company's stock after purchasing an additional 648 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Lockheed Martin were worth $292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LMT. OMNI 360 Wealth Inc. increased its stake 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 acquiring an additional 22 shares during the last quarter. 49 Wealth Management LLC grew its position in shares of Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after acquiring an additional 22 shares during the period. Tealwood Asset Management Inc. lifted its stake in Lockheed Martin by 0.4% in 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 shares of Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after purchasing an additional 23 shares during the period. Finally, Nvest Financial LLC raised its position in Lockheed Martin by 0.6% in 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 currently owned by institutional investors.

Lockheed Martin Trading Up 1.2%

Shares of Lockheed Martin stock opened at $431.20 on Wednesday. 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 company has a 50-day moving average of $454.11 and a two-hundred day moving average of $457.44. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock has a market cap of $100.67 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27.

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

Lockheed Martin Announces Dividend

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 paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LMT shares. UBS Group lowered their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. TD Cowen reissued a "hold" rating and issued a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Susquehanna decreased their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Finally, 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 report on Wednesday, April 16th. Fifteen 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 company's stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Company 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.

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