Concord Asset Management LLC VA Increases Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Concord Asset Management LLC VA increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 48.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,131 shares of the aerospace company's stock after purchasing an additional 2,642 shares during the period. Lockheed Martin makes up approximately 0.8% of Concord Asset Management LLC VA's investment portfolio, making the stock its 29th largest position. Concord Asset Management LLC VA's holdings in Lockheed Martin were worth $3,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LMT. TruNorth Capital Management LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at $31,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Price Performance

Shares of NYSE LMT traded down $2.61 on Tuesday, hitting $470.96. The company's stock had a trading volume of 1,038,812 shares, compared to its average volume of 1,369,120. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a market capitalization of $110.35 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.28. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The stock has a 50 day moving average of $469.59 and a 200-day moving average of $464.56.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. As a group, research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared 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. This represents a $13.20 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Truist Financial set a $554.00 price objective on shares of Lockheed Martin and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group cut their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Finally, UBS Group lifted their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $532.69.

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.