Fayez Sarofim & Co Lowers Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Fayez Sarofim & Co reduced its holdings in Lockheed Martin by 7.2%, now owning 15,441 shares worth approximately $6.9 million.
• Lockheed Martin's recent earnings report showed an EPS of $7.29, exceeding estimates, but revenue fell slightly short at $18.16 billion.
• The company declared a quarterly dividend of $3.30, representing an annualized yield of 3.0% and a payout ratio of 74.32%.

Fayez Sarofim & Co cut its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,441 shares of the aerospace company's stock after selling 1,201 shares during the quarter. Fayez Sarofim & Co's holdings in Lockheed Martin were worth $6,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. 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 worth $408,000 after purchasing an additional 22 shares in the last quarter. 49 Wealth Management LLC lifted its stake in Lockheed Martin by 3.4% in the 1st 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. 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 worth $2,559,000 after purchasing an additional 23 shares in the last quarter. Southland Equity Partners LLC raised its position in shares of Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after buying an additional 23 shares in the last quarter. Finally, Nvest Financial LLC raised its position in shares of Lockheed Martin by 0.6% during the 1st quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock valued at $1,617,000 after buying an additional 23 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Vertical Research reaffirmed a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Finally, UBS Group cut their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Trading Up 1.5%

Shares of NYSE LMT opened at $434.69 on Thursday. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The stock has a market cap of $101.48 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 1.50 and a beta of 0.27. The firm has a 50-day moving average of $458.10 and a 200 day moving average of $459.64. 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 (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.11 earnings per share. As a group, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

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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