SouthState Corp Has $2.11 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

SouthState Corp raised its stake in Lockheed Martin Co. (NYSE:LMT) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its stake in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Stephens Consulting LLC boosted its holdings in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter worth about $32,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $530.96 on Tuesday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The company’s 50 day simple moving average is $575.61 and its 200 day simple moving average is $525.71.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping 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 analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

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

Analysts Set New Price Targets

LMT has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Susquehanna reduced their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. UBS Group upped their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $611.00.

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.