Invesco Ltd. Acquires 12,899 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Invesco Ltd. increased its stake in Lockheed Martin by 0.6% in the first quarter, owning over 2.1 million shares valued at approximately $958 million.
• Lockheed Martin recently reported an earnings per share (EPS) of $7.29 for the quarter, surpassing analysts' expectations and showing a slight revenue increase year-over-year.
• The company announced a quarterly dividend of $3.30, reflecting a 3.1% yield for investors, with a payout ratio of 74.32%.

Invesco Ltd. increased its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,144,827 shares of the aerospace company's stock after buying an additional 12,899 shares during the period. Invesco Ltd. owned 0.92% of Lockheed Martin worth $958,116,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LMT. GAMMA Investing LLC grew its stake in shares of Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after buying an additional 1,986,600 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin in the 4th quarter valued at about $451,985,000. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 560,457 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in Lockheed Martin in the 4th quarter valued at about $229,987,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on LMT. Susquehanna dropped their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley raised 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 report on Wednesday, April 16th. UBS Group lowered 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. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Price Performance

Shares of LMT traded down $5.07 during mid-day trading on Friday, reaching $425.68. 1,477,499 shares of the stock traded hands, compared to its average volume of 2,270,781. The firm has a fifty day moving average price of $456.14 and a 200 day moving average price of $458.38. The company has a market cap of $99.38 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.49 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 1 year low of $410.11 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates 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 for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $7.11 EPS. As a group, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.1%. Lockheed Martin's payout ratio is 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.