Truist Financial Corp Buys 1,497 Shares of Lockheed Martin Corporation (NYSE:LMT)

Truist Financial Corp boosted its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,365 shares of the aerospace company's stock after purchasing an additional 1,497 shares during the period. Truist Financial Corp owned about 0.12% of Lockheed Martin worth $122,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. First American Bank grew its position 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 in the fourth quarter valued at $33,294,000. Cantor Fitzgerald Investment Advisors L.P. grew its position in Lockheed Martin by 18.6% in 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 purchasing an additional 2,686 shares in the last quarter. State of Wyoming grew its position in Lockheed Martin by 93.9% in the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after purchasing an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Lockheed Martin by 3.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock valued at $49,893,000 after acquiring an additional 3,809 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LMT shares. UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased 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 report on Tuesday, April 8th. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective on the stock in a research note on Wednesday, April 23rd. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Finally, Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Performance

NYSE LMT opened at $463.31 on Friday. The company has a market cap of $108.55 billion, a P/E ratio of 20.01, a PEG ratio of 1.61 and a beta of 0.28. The company has a fifty day simple moving average of $470.60 and a 200 day simple moving average of $465.69. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Sell-side analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. Lockheed Martin's dividend payout ratio (DPR) is currently 57.02%.

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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