Lockheed Martin (NYSE:LMT) Announces Earnings Results

Key Points

• Lockheed Martin reported a quarterly earnings per share (EPS) of $6.95, surpassing analysts' expectations of $6.33 by $0.62.
• The company announced a dividend increase from $3.30 to $3.45 per share, representing an annualized yield of 2.7%.
• Institutional investors own 74.19% of Lockheed Martin's stock, with significant increases in holdings by firms like Ameriprise Financial and Worldquant Millennium Advisors.

Lockheed Martin (NYSE:LMT - Get Free Report) issued its quarterly earnings results on Tuesday. The aerospace company reported $6.95 EPS for the quarter, beating analysts' consensus estimates of $6.33 by $0.62, Zacks reports. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%.

Lockheed Martin Trading Up 2.0%

LMT opened at $505.20 on Tuesday. 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 has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The firm has a market capitalization of $117.94 billion, a PE ratio of 28.45, a P/E/G ratio of 1.74 and a beta of 0.28. The company's 50-day moving average is $473.51 and its 200 day moving average is $465.36.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a $3.45 dividend. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Lockheed Martin by 16.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company's stock worth $347,381,000 after acquiring an additional 108,553 shares during the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Lockheed Martin by 17.7% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 430,614 shares of the aerospace company's stock worth $199,435,000 after acquiring an additional 64,812 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Lockheed Martin by 72.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 201,244 shares of the aerospace company's stock worth $93,339,000 after acquiring an additional 84,371 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth about $92,628,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Lockheed Martin by 29.2% in the 2nd quarter. Lazard Asset Management LLC now owns 136,124 shares of the aerospace company's stock worth $63,044,000 after acquiring an additional 30,740 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LMT. Royal Bank Of Canada upped their price target on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 7th. Truist Financial upped their price target on shares of Lockheed Martin from $440.00 to $500.00 and gave the company a "hold" rating in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. TD Cowen reaffirmed a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group upped their price target on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a "sell" rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $515.35.

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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