Lockheed Martin Corporation (NYSE:LMT) Shares Acquired by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its holdings in Lockheed Martin by 34.8%, acquiring an additional 50,654 shares, bringing its total to 196,334 shares valued at approximately $87.7 million.
• Lockheed Martin reported earnings of $7.29 per share for the recent quarter, exceeding analysts' expectations, despite revenue falling slightly short of forecasts at $18.16 billion.
• The company announced a $3.30 quarterly dividend to be paid on September 26, representing an annualized yield of 3.1%.

Rathbones Group PLC grew its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 34.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,334 shares of the aerospace company's stock after buying an additional 50,654 shares during the quarter. Rathbones Group PLC owned about 0.08% of Lockheed Martin worth $87,704,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Northern Trust Corp grew its position in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the period. Invesco Ltd. grew its position in shares of Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares during the period. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Lockheed Martin by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock valued at $619,369,000 after purchasing an additional 70,516 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.0%

NYSE LMT traded down $4.62 on Thursday, reaching $437.95. The company had a trading volume of 1,590,400 shares, compared to its average volume of 1,682,737. The firm has a market capitalization of $102.24 billion, a PE ratio of 24.66, a P/E/G ratio of 1.51 and a beta of 0.27. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The firm has a 50-day moving average of $453.30 and a 200-day moving average of $457.33. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly 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 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 analysts' expectations of $18.59 billion. During the same quarter in the previous year, the firm posted $7.11 earnings per share. The company's revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.0%. Lockheed Martin's payout ratio is 74.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LMT. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Vertical Research reaffirmed a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Fifteen equities 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.