Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,853 shares of the aerospace company’s stock after buying an additional 318 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Lockheed Martin were worth $247,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in LMT. GAMMA Investing LLC grew its stake in Lockheed Martin by 41,104.9% during the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at about $451,985,000. Finally, Capital Research Global Investors purchased a new stake in Lockheed Martin during the 4th quarter valued at about $229,987,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $458.59 on Friday. The business has a 50 day simple moving average of $470.80 and a two-hundred day simple moving average of $466.78. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95. The stock has a market capitalization of $107.45 billion, a P/E ratio of 19.81, a PEG ratio of 1.60 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, analysts predict that Lockheed Martin Corporation will post 27.15 EPS 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. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio (DPR) is presently 57.02%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group dropped their price target on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Wells Fargo & Company decreased their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Check Out Our Latest Stock Analysis on LMT

Lockheed Martin 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.

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