OVERSEA CHINESE BANKING Corp Ltd Increases Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 167.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,065 shares of the aerospace company's stock after buying an additional 1,294 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Lockheed Martin were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PTM Wealth Management LLC purchased a new stake in Lockheed Martin in the first quarter valued at approximately $377,000. First American Bank raised its stake in Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after purchasing an additional 1,327 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Lockheed Martin during the fourth quarter valued at approximately $33,294,000. Cantor Fitzgerald Investment Advisors L.P. grew 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 valued at $7,652,000 after acquiring an additional 2,686 shares during the last quarter. Finally, State of Wyoming grew 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 valued at $541,000 after acquiring an additional 539 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $420.97 on Friday. 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 firm has a market capitalization of $98.28 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.48 and a beta of 0.27. The business has a fifty day simple moving average of $460.68 and a two-hundred day simple moving average of $460.68. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. The business had revenue of $18.16 billion during the quarter, compared to analyst estimates 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 for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $7.11 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Vertical Research reiterated a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Wells Fargo & Company reduced their price target on shares of 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. Robert W. Baird reduced their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Truist Financial cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the stock from $554.00 to $440.00 in a report 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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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