SouthState Corp Has $1.53 Million Position in Lockheed Martin Co. (NYSE:LMT)

SouthState Corp raised its stake in Lockheed Martin Co. (NYSE:LMT) by 48.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,267 shares of the aerospace company’s stock after purchasing an additional 1,069 shares during the period. SouthState Corp’s holdings in Lockheed Martin were worth $1,526,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hohimer Wealth Management LLC boosted its holdings in Lockheed Martin by 12.5% in the second quarter. Hohimer Wealth Management LLC now owns 7,169 shares of the aerospace company’s stock worth $3,349,000 after acquiring an additional 796 shares in the last quarter. Chase Investment Counsel Corp grew its position in Lockheed Martin by 20.6% in the 2nd quarter. Chase Investment Counsel Corp now owns 971 shares of the aerospace company’s stock valued at $454,000 after purchasing an additional 166 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in Lockheed Martin by 1.1% during the second quarter. Nicholas Hoffman & Company LLC. now owns 2,919 shares of the aerospace company’s stock worth $1,364,000 after buying an additional 32 shares during the last quarter. Unison Asset Management LLC lifted its stake in shares of Lockheed Martin by 0.7% in the second quarter. Unison Asset Management LLC now owns 10,577 shares of the aerospace company’s stock valued at $4,941,000 after buying an additional 77 shares in the last quarter. Finally, Journey Advisory Group LLC grew its holdings in shares of Lockheed Martin by 3.1% during the second quarter. Journey Advisory Group LLC now owns 10,288 shares of the aerospace company’s stock valued at $4,805,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several analyst reports. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. Susquehanna increased their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $500.00 to $600.00 in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $8.12 on Thursday, hitting $566.66. 251,820 shares of the stock were exchanged, compared to its average volume of 1,066,865. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $135.96 billion, a PE ratio of 20.74, a P/E/G ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $578.73. The firm’s 50 day moving average is $520.31 and its two-hundred day moving average is $476.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.73 EPS. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. Lockheed Martin’s payout ratio is 46.10%.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.