Heritage Investors Management Corp Buys 1,834 Shares of Lockheed Martin Corporation (NYSE:LMT)

Heritage Investors Management Corp increased its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,358 shares of the aerospace company's stock after purchasing an additional 1,834 shares during the period. Heritage Investors Management Corp's holdings in Lockheed Martin were worth $11,328,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. 49 Wealth Management LLC boosted its holdings in Lockheed Martin by 3.4% during the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after purchasing an additional 22 shares during the last quarter. OMNI 360 Wealth Inc. raised its position in shares of Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 22 shares during the period. Private Portfolio Partners LLC raised its position in shares of Lockheed Martin by 4.8% in the fourth quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock valued at $244,000 after purchasing an additional 23 shares during the period. Tealwood Asset Management Inc. grew its stake in Lockheed Martin by 0.4% during the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after acquiring an additional 23 shares in the last quarter. Finally, Southland Equity Partners LLC grew its stake in Lockheed Martin by 3.1% during the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LMT. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Truist Financial set a $554.00 price target on shares of Lockheed Martin and gave the company a "buy" rating in a report on Friday, July 11th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Twelve research 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $532.69.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $464.14 on Friday. The firm's 50 day moving average price is $469.37 and its 200-day moving average price is $464.26. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The stock has a market capitalization of $108.75 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28.

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

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 dividend yield of 2.84%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 57.02%.

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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