Longfellow Investment Management Co. LLC Acquires 1,100 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Longfellow Investment Management Co. LLC increased its stake in Lockheed Martin by 136.6% in the first quarter, owning 1,905 shares valued at $851,000.
• Several hedge funds, including Charles Schwab Investment Management and GAMMA Investing LLC, also increased their holdings in Lockheed Martin, indicating a significant interest from institutional investors.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, representing an annual yield of 3.1% with a payout ratio of 74.32%.

Longfellow Investment Management Co. LLC increased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 136.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,905 shares of the aerospace company's stock after acquiring an additional 1,100 shares during the period. Longfellow Investment Management Co. LLC's holdings in Lockheed Martin were worth $851,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Lockheed Martin by 2.4% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,964 shares of the aerospace company's stock worth $1,330,000 after acquiring an additional 70 shares during the last quarter. Maia Wealth LLC grew its holdings in Lockheed Martin by 2.1% during the first quarter. Maia Wealth LLC now owns 3,828 shares of the aerospace company's stock valued at $1,820,000 after purchasing an additional 80 shares during the period. Independent Advisor Alliance grew its holdings in Lockheed Martin by 7.4% during the first quarter. Independent Advisor Alliance now owns 23,656 shares of the aerospace company's stock valued at $10,567,000 after purchasing an additional 1,620 shares during the period. Linscomb Wealth Inc. boosted its holdings in shares of Lockheed Martin by 0.4% in the first quarter. Linscomb Wealth Inc. now owns 23,553 shares of the aerospace company's stock valued at $10,521,000 after buying an additional 92 shares during the period. Finally, SouthState Corp boosted its holdings in shares of Lockheed Martin by 34.3% in the first quarter. SouthState Corp now owns 4,785 shares of the aerospace company's stock valued at $2,138,000 after buying an additional 1,223 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. TD Cowen reaffirmed a "hold" rating and set a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Vertical Research reissued a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada cut their target price on shares of 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. Fifteen 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Trading Up 1.2%

Shares of NYSE:LMT traded up $4.94 during mid-day trading on Tuesday, hitting $431.20. The company had a trading volume of 1,491,835 shares, compared to its average volume of 2,282,928. The firm has a fifty day moving average price of $454.11 and a 200 day moving average price of $457.44. The company has a market capitalization of $100.67 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27. 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 Corporation has a one year low of $410.11 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced 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. The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.11 EPS. As a group, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

Lockheed Martin Company 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.