Federated Hermes Inc. Acquires 25,853 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Federated Hermes Inc. significantly increased its stake in Lockheed Martin by 252.8% in Q1, now holding 36,080 shares valued at approximately $16.1 million.
• Several institutional investors, including Northern Trust Corp and Invesco Ltd., also raised their positions in Lockheed Martin during Q4, indicating a strong interest from institutional investors.
• Analysts have recently lowered their price targets for Lockheed Martin, with the average target now at $506.65, and a consensus rating of "Hold".

Federated Hermes Inc. grew its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 252.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,080 shares of the aerospace company's stock after purchasing an additional 25,853 shares during the quarter. Federated Hermes Inc.'s holdings in Lockheed Martin were worth $16,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after acquiring an additional 134,662 shares during the period. Invesco Ltd. boosted its position in shares of Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after acquiring an additional 318,007 shares during the period. GAMMA Investing LLC boosted its position in shares of Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after acquiring an additional 1,986,600 shares during the period. Dimensional Fund Advisors LP raised its stake in Lockheed Martin by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock valued at $619,369,000 after purchasing an additional 70,516 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Lockheed Martin by 0.8% in the fourth quarter. Stifel Financial Corp now owns 1,221,014 shares of the aerospace company's stock valued at $593,429,000 after purchasing an additional 9,198 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a research note on Wednesday, April 16th. Vertical Research reaffirmed a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada lowered their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Fifteen investment 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 company's stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Trading Down 0.0%

Shares of Lockheed Martin stock traded down $0.01 on Friday, hitting $420.97. The stock had a trading volume of 1,871,270 shares, compared to its average volume of 2,065,480. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The stock has a market cap of $98.28 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.48 and a beta of 0.27. The stock's 50-day simple moving average is $460.68 and its two-hundred day simple moving average is $460.84.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) 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 firm had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter last year, the business earned $7.11 earnings per share. The business's revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict 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. Investors of record on Tuesday, September 2nd will be issued 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 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.