Mitsubishi UFJ Asset Management Co. Ltd. Acquires 40,007 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Lockheed Martin by 11.6%, acquiring an additional 40,007 shares for a total of 384,263 shares valued at approximately $171.65 million.
• Lockheed Martin's recent quarterly earnings report showed earnings per share of $7.29, exceeding estimates, while revenues were slightly below expectations at $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, reflecting an annualized dividend yield of 3.1% with a payout ratio of 74.32%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,263 shares of the aerospace company's stock after purchasing an additional 40,007 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Lockheed Martin worth $171,654,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LMT. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 1,986,600 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $526,587,000. Leigh Baldwin & CO. LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $451,985,000. Charles Schwab Investment Management Inc. raised its stake in shares of Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after acquiring an additional 560,457 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $229,987,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.9%

Shares of NYSE LMT opened at $431.11 on Friday. The firm has a fifty day simple moving average of $457.25 and a two-hundred day simple moving average of $459.23. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month 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 firm has a market capitalization of $100.65 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (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 for the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the previous year, the company earned $7.11 earnings per share. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Analyst Ratings Changes

LMT has been the topic of several recent research reports. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and lowered their target price for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada dropped their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.

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