SouthState Corp Raises Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• SouthState Corp has increased its stake in Lockheed Martin by 34.3%, now owning 4,785 shares valued at $2.14 million.
• Lockheed Martin recently reported earnings of $7.29 per share, surpassing estimates, and announced a $3.30 quarterly dividend with a 3.1% yield.
• The stock has faced recent downgrades, with analysts adjusting price targets and maintaining a consensus rating of "Hold".

SouthState Corp increased its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 34.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,785 shares of the aerospace company's stock after acquiring an additional 1,223 shares during the period. SouthState Corp's holdings in Lockheed Martin were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 49 Wealth Management LLC increased its holdings in Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after buying an additional 22 shares during the last quarter. OMNI 360 Wealth Inc. increased its holdings in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after buying an additional 22 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after buying an additional 23 shares during the last quarter. Southland Equity Partners LLC increased its holdings in Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after buying an additional 23 shares during the last quarter. Finally, Nvest Financial LLC increased its holdings in Lockheed Martin by 0.6% in the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock valued at $1,617,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 1.2%

Shares of LMT stock opened at $425.68 on Monday. The business's 50 day moving average is $456.14 and its two-hundred day moving average is $458.12. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a market capitalization of $99.38 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating 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 company had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the business posted $7.11 EPS. The company's revenue was up .2% on a year-over-year basis. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. TD Cowen reissued a "hold" rating and issued a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and dropped their target price for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Finally, Vertical Research reissued a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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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