SouthState Corp Acquires 336 Shares of Lockheed Martin Co. (NYSE:LMT)

SouthState Corp raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,603 shares of the aerospace company’s stock after acquiring an additional 336 shares during the quarter. SouthState Corp’s holdings in Lockheed Martin were worth $2,106,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC boosted its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its stake in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Down 0.7 %

NYSE:LMT opened at $530.96 on Tuesday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a 50-day moving average price of $575.61 and a two-hundred day moving average price of $525.71. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $125.86 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the business posted $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 45.62%.

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.