Credit Agricole S A Buys 84,270 Shares of Lockheed Martin Corporation $LMT

Credit Agricole S A raised its stake in Lockheed Martin Corporation (NYSE:LMT) by 126.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,865 shares of the aerospace company’s stock after acquiring an additional 84,270 shares during the quarter. Credit Agricole S A’s holdings in Lockheed Martin were worth $67,393,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Robert W. Baird dropped their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. Finally, Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a “market perform” rating in a report on Monday, July 14th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $506.65.

Lockheed Martin Stock Performance

NYSE:LMT opened at $440.71 on Tuesday. The company has a market capitalization of $102.89 billion, a PE ratio of 24.81, a P/E/G ratio of 1.54 and a beta of 0.27. The company has a 50 day simple moving average of $450.83 and a two-hundred day simple moving average of $456.59. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. 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 analysts’ consensus estimates of $6.57 by $0.72. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.11 EPS. Research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed 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 of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.0%. Lockheed Martin’s dividend payout ratio (DPR) is 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.