Freestone Capital Holdings LLC Purchases 699 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Freestone Capital Holdings LLC increased its position in Lockheed Martin by 5.6%, acquiring an additional 699 shares, bringing its total holdings to 13,287 shares valued at approximately $5.9 million.
• Lockheed Martin recently reported quarterly earnings of $7.29 per share, exceeding expectations, with revenue of $18.16 billion for the quarter, reflecting a year-over-year increase.
• The company declared a quarterly dividend of $3.30, with a yield of 3.0%, to be paid to investors of record on September 2nd.

Freestone Capital Holdings LLC boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,287 shares of the aerospace company's stock after buying an additional 699 shares during the period. Freestone Capital Holdings LLC's holdings in Lockheed Martin were worth $5,935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Northern Trust Corp increased its holdings in Lockheed Martin by 6.3% during the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock worth $1,098,667,000 after purchasing an additional 134,662 shares in the last quarter. Invesco Ltd. increased its holdings in Lockheed Martin by 0.6% during the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock worth $958,116,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC increased its holdings in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Lockheed Martin by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock worth $580,317,000 after purchasing an additional 24,512 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $437.78 on Friday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. 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 business's 50 day simple moving average is $451.63 and its 200 day simple moving average is $456.76. 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 data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The business had revenue of $18.16 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 annualized dividend and a yield of 3.0%. Lockheed Martin's dividend payout ratio is presently 74.32%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LMT. Royal Bank Of Canada decreased their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Robert W. Baird decreased their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. UBS Group decreased their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Finally, Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.

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