Manhattan West Asset Management LLC Has $553,000 Holdings in Lockheed Martin Corporation (NYSE:LMT)

Manhattan West Asset Management LLC raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 15.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,238 shares of the aerospace company’s stock after buying an additional 170 shares during the quarter. Manhattan West Asset Management LLC’s holdings in Lockheed Martin were worth $553,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LMT. 49 Wealth Management LLC raised its stake in shares of Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company’s stock valued at $295,000 after purchasing an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. raised its stake in shares of Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 22 shares in the last quarter. Tealwood Asset Management Inc. raised its stake in shares of Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company’s stock valued at $2,559,000 after purchasing an additional 23 shares in the last quarter. Southland Equity Partners LLC raised its stake in shares of Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company’s stock valued at $342,000 after purchasing an additional 23 shares in the last quarter. Finally, Nvest Financial LLC raised its stake in shares of Lockheed Martin by 0.6% in the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company’s stock valued at $1,617,000 after purchasing an additional 23 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT opened at $425.68 on Friday. 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 stock has a 50 day moving average of $456.14 and a 200 day moving average of $458.67. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company has a market capitalization of $99.38 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.51 and a beta of 0.27.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the business posted $7.11 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current 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 issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 74.32%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group cut their target price on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Jefferies Financial Group dropped their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Truist Financial lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Finally, Vertical Research reiterated a “hold” rating and set a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.