Steward Partners Investment Advisory LLC Has $19.84 Million Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Steward Partners Investment Advisory LLC reduced its stake in Lockheed Martin by 9%, now holding shares valued at approximately $19.84 million.
• Lockheed Martin recently reported an earnings per share of $7.29, exceeding analyst expectations, with quarterly revenues slightly down at $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, indicating a yield of 3.0%, set to be paid to shareholders on September 26th.

Steward Partners Investment Advisory LLC reduced its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,420 shares of the aerospace company's stock after selling 4,387 shares during the period. Steward Partners Investment Advisory LLC's holdings in Lockheed Martin were worth $19,843,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at about $31,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Banque Transatlantique SA acquired a new position in Lockheed Martin in the fourth quarter valued at about $43,000. EQ Wealth Advisors LLC acquired a new position in Lockheed Martin in the first quarter valued at about $43,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new position in Lockheed Martin in the first quarter valued at about $45,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.1%

LMT opened at $437.78 on Friday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The company has a market cap of $102.20 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.27. The firm has a 50 day simple moving average of $451.63 and a 200 day simple moving average of $456.76. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95.

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

Lockheed Martin Dividend Announcement

The company 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 yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is presently 74.32%.

Analyst Ratings Changes

LMT has been the topic of a number of recent analyst reports. Susquehanna reduced their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, TD Cowen restated a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Fifteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin currently 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.

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