Atlantic Union Bankshares Corp Raises Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Atlantic Union Bankshares Corp grew its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 27.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,317 shares of the aerospace company’s stock after buying an additional 1,766 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Lockheed Martin were worth $3,715,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TruNorth Capital Management LLC purchased a new position in Lockheed Martin in the first quarter valued at approximately $31,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $35,000. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $40,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $464.14 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The company’s 50-day moving average price is $469.37 and its two-hundred day moving average price is $464.26. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The stock has a market cap of $108.75 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $17.83 billion. As a group, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.84%. Lockheed Martin’s dividend payout ratio (DPR) is presently 57.02%.

Analysts Set New Price Targets

A number of research firms have commented on LMT. Jefferies Financial Group decreased their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Truist Financial set a $554.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the stock a “market perform” rating in a report on Monday, July 14th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $532.69.

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.