18,187 Shares in Lockheed Martin Corporation (NYSE:LMT) Purchased by Nuance Investments LLC

Key Points

• Nuance Investments LLC has acquired a new position in Lockheed Martin Corporation, purchasing 18,187 shares valued at approximately $8.12 million.
• Lockheed Martin recently reported $7.29 earnings per share, exceeding analysts' expectations, with a quarterly revenue of $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, with a scheduled payment date of September 26th, representing an annualized yield of 3.1%.

Nuance Investments LLC acquired a new stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,187 shares of the aerospace company's stock, valued at approximately $8,124,000.

Several other hedge funds also recently bought and sold shares of LMT. TruNorth Capital Management LLC purchased a new position in Lockheed Martin in the 1st quarter worth approximately $31,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Banque Transatlantique SA purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $43,000. EQ Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at $43,000. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 1.0%

Shares of NYSE:LMT traded down $4.62 on Thursday, hitting $437.95. The company had a trading volume of 1,590,400 shares, compared to its average volume of 1,682,737. The firm's 50-day simple moving average is $453.30 and its two-hundred day simple moving average is $457.33. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market capitalization of $102.24 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 1.51 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted 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 last year, the company posted $7.11 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Vertical Research reaffirmed a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Robert W. Baird cut their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. Jefferies Financial Group cut their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Finally, Truist Financial cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their price objective for the company from $554.00 to $440.00 in a research note 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 stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of "Hold" and an average target price of $506.65.

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.