NewEdge Wealth LLC Increases Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• NewEdge Wealth LLC increased its stake in Lockheed Martin Corporation by 5.5%, amounting to owned shares worth $22.1 million as per the latest SEC filing.
• Lockheed Martin's recent earnings report revealed $7.29 earnings per share, exceeding estimates and showing a slight revenue increase of 0.2% year-over-year.
• The company announced a quarterly dividend of $3.30, indicating a robust annualized payout with a yield of 3.1% for investors.

NewEdge Wealth LLC raised its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,506 shares of the aerospace company's stock after purchasing an additional 2,560 shares during the period. NewEdge Wealth LLC's holdings in Lockheed Martin were worth $22,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. PTM Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth about $377,000. First American Bank raised its position in shares of Lockheed Martin by 18.8% during the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after acquiring an additional 1,327 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $33,294,000. Cantor Fitzgerald Investment Advisors L.P. increased its position in Lockheed Martin by 18.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after buying an additional 2,686 shares during the period. Finally, State of Wyoming increased its position in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after buying an additional 539 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Price Performance

LMT stock opened at $420.97 on Friday. The stock has a 50-day moving average price of $460.68 and a two-hundred day moving average price of $460.68. 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 company has a market cap of $98.28 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.11 earnings per share. As a group, research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lockheed Martin currently has an average rating of "Hold" and an average 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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