Lockheed Martin Corporation (NYSE:LMT) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 252.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,080 shares of the aerospace company’s stock after purchasing an additional 25,853 shares during the period. Federated Hermes Inc.’s holdings in Lockheed Martin were worth $16,117,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northern Trust Corp raised its holdings in Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after acquiring an additional 134,662 shares in the last quarter. Invesco Ltd. raised its holdings in Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after acquiring an additional 318,007 shares in the last quarter. GAMMA Investing LLC raised its holdings in Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock valued at $889,593,000 after acquiring an additional 1,986,600 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Lockheed Martin by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company’s stock valued at $619,369,000 after purchasing an additional 70,516 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Lockheed Martin by 0.8% during the fourth quarter. Stifel Financial Corp now owns 1,221,014 shares of the aerospace company’s stock valued at $593,429,000 after purchasing an additional 9,198 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on LMT shares. Robert W. Baird lowered their target price on shares of Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. UBS Group lowered their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. Cowen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Truist Financial lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Fifteen research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $506.65.

Lockheed Martin Price Performance

LMT stock opened at $420.97 on Friday. The firm has a market capitalization of $98.28 billion, a PE ratio of 23.70, a P/E/G ratio of 1.48 and a beta of 0.27. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The firm has a 50-day moving average of $460.68 and a two-hundred day moving average of $460.84.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating analysts’ consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.11 EPS. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. Lockheed Martin’s dividend payout ratio is currently 74.32%.

Lockheed Martin 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.