Korea Investment CORP Sells 37,819 Shares of Lockheed Martin Corporation $LMT

Korea Investment CORP lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 20.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,145 shares of the aerospace company’s stock after selling 37,819 shares during the quarter. Korea Investment CORP’s holdings in Lockheed Martin were worth $64,391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin during the 1st quarter worth about $31,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at about $35,000. Banque Transatlantique SA bought a new position in Lockheed Martin in the 4th quarter valued at about $43,000. EQ Wealth Advisors LLC bought a new position in Lockheed Martin in the 1st quarter valued at about $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new position in Lockheed Martin in the 1st quarter valued at about $45,000. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LMT. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the company a “market perform” rating in a research report on Monday, July 14th. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Truist Financial cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. UBS Group decreased their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Finally, Cowen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $506.65.

Lockheed Martin Trading Up 0.7%

NYSE:LMT opened at $440.71 on Tuesday. 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 market capitalization of $102.89 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.27. The firm’s 50 day moving average is $450.83 and its 200 day moving average is $456.59. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. The company 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%. Lockheed Martin’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.11 EPS. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s payout ratio is currently 74.32%.

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.