Easterly Investment Partners LLC Raises Stake in Lockheed Martin Corporation (NYSE:LMT)

Easterly Investment Partners LLC lifted its stake in Lockheed Martin Corporation (NYSE:LMT) by 47.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,810 shares of the aerospace company’s stock after buying an additional 900 shares during the quarter. Easterly Investment Partners LLC’s holdings in Lockheed Martin were worth $1,255,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LMT. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at about $32,000. TruNorth Capital Management LLC purchased a new position in Lockheed Martin in the 1st quarter valued at $31,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the 4th quarter worth $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cowen cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Wells Fargo & Company lowered their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Finally, Truist Financial set a $554.00 price objective on Lockheed Martin and gave the stock a “buy” rating in a research note on Friday, July 11th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $532.69.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $469.60 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a fifty day simple moving average of $469.56 and a 200-day simple moving average of $464.56. The firm has a market capitalization of $110.03 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.65 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. On average, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal 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 given a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio (DPR) is presently 57.02%.

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.