New England Asset Management Inc. Has $8.11 Million Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• New England Asset Management Inc. increased its stake in Lockheed Martin by 23.6% during Q1, holding 18,160 shares valued at approximately $8.11 million, making it the firm's 16th largest position.
• Lockheed Martin's stock has recently seen widespread declines in target price estimates, with analysts reducing their targets from a high of $554 to as low as $440.
• The company reported earnings per share of $7.29 for the last quarter, surpassing analysts' expectations, and has declared a quarterly dividend of $3.30 per share, reflecting a yield of 2.9%.

New England Asset Management Inc. boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 23.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,160 shares of the aerospace company's stock after acquiring an additional 3,470 shares during the period. Lockheed Martin accounts for 1.3% of New England Asset Management Inc.'s portfolio, making the stock its 16th largest position. New England Asset Management Inc.'s holdings in Lockheed Martin were worth $8,112,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV boosted its holdings in Lockheed Martin by 0.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,372 shares of the aerospace company's stock valued at $11,781,000 after acquiring an additional 205 shares during the last quarter. Nearwater Capital Markets Ltd bought a new position in Lockheed Martin during the first quarter worth about $11,168,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Lockheed Martin by 54.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 212,524 shares of the aerospace company's stock worth $94,937,000 after buying an additional 75,058 shares during the last quarter. Investmark Advisory Group LLC boosted its holdings in Lockheed Martin by 20.2% during the first quarter. Investmark Advisory Group LLC now owns 4,590 shares of the aerospace company's stock worth $2,051,000 after buying an additional 770 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its holdings in Lockheed Martin by 3.7% during the first quarter. Clark Capital Management Group Inc. now owns 4,904 shares of the aerospace company's stock worth $2,191,000 after buying an additional 173 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LMT shares. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Robert W. Baird reduced their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. TD Cowen restated a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Truist Financial cut 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. Finally, UBS Group cut their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and an average target price of $494.00.

Lockheed Martin Trading Up 1.6%

NYSE:LMT opened at $456.05 on Friday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The stock has a market capitalization of $106.47 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.58 and a beta of 0.26. The business's 50-day simple moving average is $446.24 and its 200-day simple moving average is $457.12.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the firm earned $7.11 EPS. Lockheed Martin's revenue for the quarter was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.9%. 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.

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