Quantbot Technologies LP Purchases 30,690 Shares of Lockheed Martin Corporation $LMT

Key Points

• Quantbot Technologies LP has increased its stake in Lockheed Martin by 93.9%, purchasing an additional 30,690 shares to bring its total ownership to 63,382 shares.
• Lockheed Martin plans to pay a quarterly dividend of $3.30 per share, with a dividend yield of 3.0%, targeting a payout date of September 26th for eligible shareholders.
• Despite a strong quarterly earnings report, analysts have lowered price targets and ratings for Lockheed Martin, with a consensus rating of "Hold" and an average target price of $506.65.

Quantbot Technologies LP increased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 93.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,382 shares of the aerospace company's stock after buying an additional 30,690 shares during the period. Lockheed Martin accounts for approximately 0.9% of Quantbot Technologies LP's investment portfolio, making the stock its 5th biggest position. Quantbot Technologies LP's holdings in Lockheed Martin were worth $28,313,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin in the first quarter valued at about $31,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter valued at approximately $35,000. Banque Transatlantique SA acquired a new stake in Lockheed Martin during the 4th quarter valued at approximately $43,000. EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the 1st quarter valued at about $43,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new position in shares of Lockheed Martin in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Price Performance

NYSE:LMT opened at $437.78 on Monday. The stock has a 50 day moving average of $451.63 and a two-hundred day moving average of $456.74. 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 firm has a market cap of $102.20 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $7.11 earnings per share. On average, analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued 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 3.0%. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LMT. Robert W. Baird cut their price target on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. 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 decreased their price objective 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of "Hold" and an average target price of $506.65.

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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