Free Trial

W.H. Cornerstone Investments Inc. Buys 887 Shares of Lockheed Martin Corporation (NYSE:LMT)

Lockheed Martin logo with Aerospace background

Key Points

  • W.H. Cornerstone Investments Inc. increased its holdings in Lockheed Martin by 66.6%, acquiring an additional 887 shares during the first quarter, bringing its total shares owned to 2,219, valued at approximately $991,000.
  • Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding expectations, while also announcing a quarterly dividend of $3.30 per share, resulting in an annualized dividend of $13.20.
  • Recent analyst downgrades have affected Lockheed Martin's stock ratings, with several firms lowering their target prices, causing the average price target to drop to $506.65 and resulting in an overall "hold" rating from analysts.
  • Five stocks we like better than Lockheed Martin.

W.H. Cornerstone Investments Inc. increased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 66.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,219 shares of the aerospace company's stock after purchasing an additional 887 shares during the quarter. W.H. Cornerstone Investments Inc.'s holdings in Lockheed Martin were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin during the first quarter valued at $31,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at $40,000. Banque Transatlantique SA bought a new position in shares of Lockheed Martin during the fourth quarter valued at $43,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Lockheed Martin during the first quarter valued at $43,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT opened at $420.97 on Monday. 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 Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock has a 50-day moving average price of $460.68 and a 200 day moving average price of $460.50. The stock has a market capitalization of $98.28 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.48 and a beta of 0.27.

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

Lockheed Martin Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LMT. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and lowered their target price for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. 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. Robert W. Baird lowered their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lowered their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $506.65.

Read Our Latest Stock Report on LMT

Lockheed Martin Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Lockheed Martin Right Now?

Before you consider Lockheed Martin, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.

While Lockheed Martin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Top 3 Defense Stocks to Profit From $175 Billion Golden Dome

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines