Motco Has $3.96 Million Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Motco reduced its stake in Lockheed Martin by 9.8% in the first quarter, now holding shares valued at approximately $3.96 million.
• Various hedge funds, including Geode Capital Management and Northern Trust Corp, have increased their investments in Lockheed Martin, with hedge funds owning 74.19% of the stock.
• Lockheed Martin recently reported $7.29 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, though revenue was slightly below forecasts.

Motco trimmed its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,860 shares of the aerospace company's stock after selling 965 shares during the period. Motco's holdings in Lockheed Martin were worth $3,958,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock valued at $2,374,557,000 after purchasing an additional 59,597 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Lockheed Martin by 6.3% during the fourth 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after purchasing an additional 318,007 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lockheed Martin by 41,104.9% during the first 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Lockheed Martin by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock valued at $619,369,000 after buying an additional 70,516 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday. Vertical Research reiterated a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a report on Tuesday. 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 report on Wednesday. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Fifteen equities research 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 MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin Trading Up 0.2%

Shares of NYSE:LMT opened at $421.60 on Friday. The stock has a market capitalization of $98.43 billion, a PE ratio of 23.74, a P/E/G ratio of 1.45 and a beta of 0.28. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The firm has a fifty day moving average price of $465.80 and a 200 day moving average price of $462.71. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $7.11 earnings per share. Analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.13%. Lockheed Martin's dividend payout ratio (DPR) 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.

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