Mackenzie Financial Corp Acquires 16,865 Shares of Lockheed Martin Corporation (NYSE:LMT)

Mackenzie Financial Corp boosted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 14.1% during the 1st quarter, Holdings Channel reports. The firm owned 136,282 shares of the aerospace company’s stock after buying an additional 16,865 shares during the period. Mackenzie Financial Corp’s holdings in Lockheed Martin were worth $60,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Eagle Capital Management LLC raised its stake in Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock valued at $5,261,000 after purchasing an additional 32 shares during the period. Brighton Jones LLC raised its stake in Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Hudson Portfolio Management LLC bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $256,000. Arrowstreet Capital Limited Partnership raised its stake in Lockheed Martin by 230.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 210,193 shares of the aerospace company’s stock valued at $102,141,000 after purchasing an additional 146,581 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its stake in Lockheed Martin by 8.5% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 982 shares of the aerospace company’s stock valued at $477,000 after purchasing an additional 77 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $421.25 on Tuesday. The company has a market cap of $98.35 billion, a P/E ratio of 23.72, a P/E/G ratio of 1.48 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The business’s 50 day moving average price is $464.77 and its 200-day moving average price is $462.30. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.11 EPS. Sell-side analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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 issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s payout ratio is currently 74.32%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Susquehanna reduced their price objective on Lockheed Martin from $550.00 to $490.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Vertical Research reaffirmed a “hold” rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Cowen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Truist Financial downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group reduced their price objective 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. Fifteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.