Entropy Technologies LP Acquires 14,171 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Entropy Technologies LP increased its holdings in Lockheed Martin by 410.2%, acquiring 17,626 shares valued at approximately $7.87 million.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, surpassing estimates and showcasing a 5.85% net margin.
• The company declared a quarterly dividend of $3.30 per share, resulting in an annualized dividend of $13.20 with a yield of 3.1%.

Entropy Technologies LP raised its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 410.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,626 shares of the aerospace company's stock after purchasing an additional 14,171 shares during the quarter. Lockheed Martin makes up approximately 0.8% of Entropy Technologies LP's holdings, making the stock its 19th biggest position. Entropy Technologies LP's holdings in Lockheed Martin were worth $7,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Eagle Capital Management LLC boosted its stake in shares of Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after acquiring an additional 32 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after acquiring an additional 191 shares in the last quarter. Hudson Portfolio Management LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth about $256,000. Bessemer Group Inc. boosted its stake in shares of Lockheed Martin by 8.9% during the 4th quarter. Bessemer Group Inc. now owns 17,369 shares of the aerospace company's stock worth $8,440,000 after acquiring an additional 1,423 shares in the last quarter. Finally, Petros Family Wealth LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth about $393,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

LMT has been the subject of several recent analyst reports. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price target for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Robert W. Baird decreased their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $506.65.

Lockheed Martin Price Performance

Shares of LMT traded up $0.54 during mid-day trading on Monday, reaching $426.17. The company had a trading volume of 1,461,532 shares, compared to its average volume of 2,284,224. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month 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 company's 50-day moving average is $456.14 and its 200-day moving average is $458.12. The company has a market capitalization of $99.49 billion, a P/E 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 earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the prior year, the firm posted $7.11 EPS. Lockheed Martin's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued 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 dividend yield of 3.1%. Lockheed Martin's dividend payout ratio is presently 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.