Harbour Investments Inc. Has $2 Million Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Harbour Investments Inc. reduced its stake in Lockheed Martin by 13.3%, holding 4,482 shares valued at approximately $2 million after selling 690 shares.
• Lockheed Martin reported a quarterly EPS of $7.29, exceeding estimates, and achieved a return on equity of 107.60% despite a slight revenue miss compared to expectations.
• The company announced a quarterly dividend of $3.30 per share, representing an annualized dividend yield of 3.1% and a payout ratio of 74.32%.

Harbour Investments Inc. reduced its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,482 shares of the aerospace company's stock after selling 690 shares during the quarter. Harbour Investments Inc.'s holdings in Lockheed Martin were worth $2,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in Lockheed Martin during the first quarter valued at $31,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at $40,000. Banque Transatlantique SA acquired a new stake in Lockheed Martin during the fourth quarter valued at $43,000. Finally, EQ Wealth Advisors LLC acquired a new stake in Lockheed Martin during the first quarter valued at $43,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 0.7%

Shares of Lockheed Martin stock traded up $2.89 on Monday, hitting $423.90. 1,547,249 shares of the company's stock traded hands, compared to its average volume of 1,685,385. The firm's 50-day moving average price is $460.68 and its two-hundred day moving average price is $460.50. The stock has a market capitalization of $98.96 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27. Lockheed Martin Corporation has a one year low of $410.11 and a one 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.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating 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 company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the previous year, the company posted $7.11 EPS. The business's revenue for the quarter 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 fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed 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 is currently 74.32%.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. Vertical Research restated a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Wall Street Zen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Truist Financial downgraded 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 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus target price 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.