Lockheed Martin Corporation (NYSE:LMT) Shares Acquired by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its holdings in Lockheed Martin by 11%, owning 6,839 shares valued at approximately $3.05 million after the purchase.
• Lockheed Martin posted earnings per share of $7.29 in its latest quarterly report, surpassing expectations but recording a slight revenue decline compared to the previous year.
• The company is set to distribute a $3.30 quarterly dividend, reflecting an annual yield of 3.0%, with the ex-dividend date on September 2nd.

Cary Street Partners Financial LLC boosted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,839 shares of the aerospace company's stock after acquiring an additional 676 shares during the quarter. Cary Street Partners Financial LLC's holdings in Lockheed Martin were worth $3,055,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LMT. Northern Trust Corp raised its stake in Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock worth $1,098,667,000 after buying an additional 134,662 shares in the last quarter. GAMMA Investing LLC grew its stake in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lockheed Martin by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock worth $619,369,000 after buying an additional 70,516 shares during the last quarter. Stifel Financial Corp grew its stake in Lockheed Martin by 0.8% during the 4th quarter. Stifel Financial Corp now owns 1,221,014 shares of the aerospace company's stock worth $593,429,000 after buying an additional 9,198 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $526,587,000. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Robert W. Baird cut their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Finally, Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of "Hold" and an average price target of $506.65.

Lockheed Martin Trading Down 1.2%

Lockheed Martin stock traded down $5.07 during trading on Friday, hitting $425.68. The company had a trading volume of 1,477,499 shares, compared to its average volume of 2,270,781. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The company's 50 day simple moving average is $456.14 and its 200-day simple moving average is $458.67. The stock has a market cap of $99.38 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.51 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.11 earnings per share. As a group, analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company 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 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio 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.