Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Meridian Wealth Management LLC

Key Points

• Meridian Wealth Management LLC reduced its stake in Lockheed Martin by 14.1% during the 1st quarter, holding 5,230 shares valued at approximately $2.34 million.
• Lockheed Martin reported **$7.29** earnings per share for the last quarter, exceeding analysts' expectations of **$6.57**, with revenue of **$18.16 billion**, slightly below forecasts.
• The company declared a quarterly dividend of **$3.30** per share, which will be paid on **September 26th**, yielding an annualized amount of **$13.20**.

Meridian Wealth Management LLC cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,230 shares of the aerospace company's stock after selling 855 shares during the period. Meridian Wealth Management LLC's holdings in Lockheed Martin were worth $2,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Northern Trust Corp boosted its stake in Lockheed Martin by 6.3% during the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after purchasing an additional 134,662 shares in the last quarter. Invesco Ltd. boosted its stake in Lockheed Martin by 0.6% during the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC boosted 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 valued at $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 valued at $619,369,000 after purchasing an additional 70,516 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.1%

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 current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $99.49 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27. The firm's fifty day simple moving average is $455.09 and its 200-day simple moving average is $457.62.

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

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is presently 74.32%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMT. Vertical Research reaffirmed a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Susquehanna cut their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and cut their price objective for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, UBS Group cut their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Fifteen investment 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. According to data from MarketBeat, Lockheed Martin has an average rating of "Hold" and a consensus price target of $506.65.

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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