Fox Hill Wealth Management Purchases 1,127 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Fox Hill Wealth Management increased its stake in Lockheed Martin by 26.9%, acquiring an additional 1,127 shares, bringing its total holdings to 5,323 shares valued at approximately $2,378,000.
• Recent analysts' reports have shown mixed sentiments, with target prices for Lockheed Martin's stock ranging from $460.00 to $506.65, while the consensus rating remains a "Hold".
• Lockheed Martin announced a quarterly dividend of $3.30 per share, yielding 3.1%, set to be paid on September 26th to shareholders of record as of September 2nd.

Fox Hill Wealth Management increased its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 26.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,323 shares of the aerospace company's stock after acquiring an additional 1,127 shares during the period. Lockheed Martin comprises about 1.4% of Fox Hill Wealth Management's holdings, making the stock its 22nd largest holding. Fox Hill Wealth Management's holdings in Lockheed Martin were worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of LMT. Entropy Technologies LP raised its position in Lockheed Martin by 410.2% during the 1st quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock valued at $7,874,000 after purchasing an additional 14,171 shares during the last quarter. PTM Wealth Management LLC bought a new position in Lockheed Martin during the 1st quarter valued at approximately $377,000. First American Bank raised its position in Lockheed Martin by 18.8% during the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after purchasing an additional 1,327 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Lockheed Martin during the 4th quarter valued at approximately $33,294,000. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its position in Lockheed Martin by 18.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after purchasing an additional 2,686 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Down 1.0%

LMT traded down $4.62 during trading on Thursday, hitting $437.95. 1,590,873 shares of the company's stock traded hands, compared to its average volume of 1,682,785. The company's 50 day simple moving average is $453.30 and its two-hundred day simple moving average is $457.33. The stock has a market capitalization of $102.24 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.51 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. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS 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 company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the prior year, the business earned $7.11 earnings per share. Lockheed Martin's revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on LMT. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. UBS Group cut their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group cut their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $506.65.

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.