New Age Alpha Advisors LLC Lowers Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• New Age Alpha Advisors LLC significantly reduced its holdings in Lockheed Martin by 62.7%, now owning 2,122 shares valued at approximately $948,000.
• Lockheed Martin's latest earnings report showed an EPS of $7.29, exceeding analysts' expectations of $6.57, while revenues were slightly below estimates at $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, with a dividend yield of 3.1%, reflecting a payout ratio of 74.32%.

New Age Alpha Advisors LLC lowered its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 62.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,122 shares of the aerospace company's stock after selling 3,563 shares during the period. New Age Alpha Advisors LLC's holdings in Lockheed Martin were worth $948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LMT. Eagle Capital Management LLC lifted its position in Lockheed Martin by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after purchasing an additional 32 shares during the period. Brighton Jones LLC lifted its position in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after acquiring an additional 191 shares during the period. Hudson Portfolio Management LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter valued at approximately $256,000. CenterBook Partners LP lifted its position in shares of Lockheed Martin by 97.4% during the 4th quarter. CenterBook Partners LP now owns 3,217 shares of the aerospace company's stock valued at $1,563,000 after acquiring an additional 1,587 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Lockheed Martin by 8.9% during the 4th quarter. Bessemer Group Inc. now owns 17,369 shares of the aerospace company's stock valued at $8,440,000 after acquiring an additional 1,423 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LMT shares. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. UBS Group reduced their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Finally, Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Fifteen 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 data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin Trading Down 1.2%

LMT stock traded down $5.07 during midday trading on Friday, hitting $425.68. The stock had a trading volume of 1,477,499 shares, compared to its average volume of 2,270,781. The firm has a market cap of $99.38 billion, a PE ratio of 23.97, 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 12-month low of $410.11 and a 12-month high of $618.95. The company's 50-day moving average price is $456.14 and its 200 day moving average price is $458.38.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping 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 firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the previous year, the company earned $7.11 EPS. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

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.