Lockheed Martin Corporation (NYSE:LMT) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Lockheed Martin Corporation by 6.7% in the first quarter, acquiring a total of 73,905 shares valued at approximately $32.96 million.
• Lockheed Martin reported an EPS of $7.29 for the latest quarter, exceeding analyst estimates, but overall revenue was less than projected at $18.16 billion.
• Analysts are generally cautious, with many downgrading Lockheed Martin to a "hold" rating; the average price target has been adjusted to $506.65.

Resona Asset Management Co. Ltd. lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,905 shares of the aerospace company's stock after buying an additional 4,633 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Lockheed Martin were worth $32,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. Eagle Capital Management LLC raised its stake in Lockheed Martin by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after purchasing an additional 32 shares during the last quarter. Brighton Jones LLC raised its stake in Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after purchasing an additional 191 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $958,000. BTG Pactual Asset Management US LLC raised its stake in Lockheed Martin by 25.8% in the 4th quarter. BTG Pactual Asset Management US LLC now owns 497 shares of the aerospace company's stock valued at $242,000 after purchasing an additional 102 shares during the last quarter. Finally, SageView Advisory Group LLC raised its stake in Lockheed Martin by 14.9% in the 4th quarter. SageView Advisory Group LLC now owns 3,812 shares of the aerospace company's stock valued at $1,853,000 after purchasing an additional 493 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Jefferies Financial Group decreased their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. 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. Based on data from MarketBeat, Lockheed Martin has an average rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $426.17 on Tuesday. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The business's fifty day moving average price is $455.09 and its two-hundred day moving average price is $457.62. The firm has a market capitalization of $99.49 billion, a PE ratio of 24.00, a P/E/G ratio of 1.49 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued 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. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period last year, the company earned $7.11 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect 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 given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

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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