Sit Investment Associates Inc. Buys 99 Shares of Lockheed Martin Corporation (NYSE:LMT)

Sit Investment Associates Inc. lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,682 shares of the aerospace company’s stock after purchasing an additional 99 shares during the period. Sit Investment Associates Inc.’s holdings in Lockheed Martin were worth $3,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Lockheed Martin by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Northern Trust Corp increased its holdings in shares of 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 purchasing an additional 134,662 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock valued at $958,116,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 1,986,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Lockheed Martin by 5.9% in 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 in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.1%

LMT opened at $437.78 on Friday. The stock has a market capitalization of $102.21 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.54 and a beta of 0.27. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The firm’s fifty day simple moving average is $451.63 and its 200 day simple moving average is $456.74. 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 (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. The business had revenue of $18.16 billion for the quarter, compared to analysts’ expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.11 EPS. As a group, research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given 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 payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of analyst reports. Truist Financial lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a “market perform” rating in a report on Monday, July 14th. Susquehanna lowered their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating for the company in a report on Wednesday, July 23rd. Finally, Vertical Research reaffirmed a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $506.65.

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.