Kovitz Investment Group Partners LLC Has $20.83 Million Position in Lockheed Martin Corporation (NYSE:LMT)

Kovitz Investment Group Partners LLC boosted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 63.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,620 shares of the aerospace company's stock after acquiring an additional 18,126 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Lockheed Martin were worth $20,826,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Cookson Peirce & Co. Inc. raised its holdings in shares of Lockheed Martin by 13.1% in the first quarter. Cookson Peirce & Co. Inc. now owns 551 shares of the aerospace company's stock valued at $246,000 after buying an additional 64 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in Lockheed Martin by 88.2% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,280 shares of the aerospace company's stock valued at $1,912,000 after acquiring an additional 2,006 shares in the last quarter. Sit Investment Associates Inc. increased its position in Lockheed Martin by 1.3% in the 1st quarter. Sit Investment Associates Inc. now owns 7,682 shares of the aerospace company's stock valued at $3,432,000 after acquiring an additional 99 shares in the last quarter. American Money Management LLC increased its position in Lockheed Martin by 2.5% in the 1st quarter. American Money Management LLC now owns 14,129 shares of the aerospace company's stock valued at $6,312,000 after acquiring an additional 339 shares in the last quarter. Finally, William B. Walkup & Associates Inc. increased its position in Lockheed Martin by 10.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 1,513 shares of the aerospace company's stock valued at $676,000 after acquiring an additional 145 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.0%

Lockheed Martin stock opened at $437.95 on Friday. The company's 50 day simple moving average is $452.51 and its 200 day simple moving average is $456.88. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The firm has a market capitalization of $102.24 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.55 and a beta of 0.27. 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 released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the firm earned $7.11 EPS. Lockheed Martin's quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid 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 payout ratio is presently 74.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LMT. Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Vertical Research restated a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Susquehanna lowered their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Finally, Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin 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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