Federated Hermes Inc. Buys 30,350 Shares of Lockheed Martin Co. (NYSE:LMT)

Federated Hermes Inc. grew its stake in Lockheed Martin Co. (NYSE:LMT) by 686.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,774 shares of the aerospace company’s stock after acquiring an additional 30,350 shares during the period. Federated Hermes Inc.’s holdings in Lockheed Martin were worth $16,243,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LMT. GHP Investment Advisors Inc. raised its holdings in shares of Lockheed Martin by 19.8% in the second quarter. GHP Investment Advisors Inc. now owns 3,852 shares of the aerospace company’s stock valued at $1,799,000 after acquiring an additional 637 shares in the last quarter. TradeLink Capital LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $234,000. Meeder Advisory Services Inc. lifted its position in shares of Lockheed Martin by 21.3% in the 2nd quarter. Meeder Advisory Services Inc. now owns 4,853 shares of the aerospace company’s stock worth $2,267,000 after purchasing an additional 851 shares during the period. Abbrea Capital LLC boosted its stake in shares of Lockheed Martin by 4.4% during the second quarter. Abbrea Capital LLC now owns 1,601 shares of the aerospace company’s stock valued at $748,000 after purchasing an additional 67 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Lockheed Martin by 224.2% during the second quarter. Meeder Asset Management Inc. now owns 107 shares of the aerospace company’s stock valued at $50,000 after buying an additional 74 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the topic of several recent research reports. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. One 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 stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $572.92 on Tuesday. The business has a fifty day moving average of $537.11 and a 200 day moving average of $485.28. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market capitalization of $136.56 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued 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 2.20%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Lockheed Martin 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.