Phoenix Wealth Advisors Buys 92 Shares of Lockheed Martin Corporation $LMT

Phoenix Wealth Advisors grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 8.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,221 shares of the aerospace company’s stock after acquiring an additional 92 shares during the period. Phoenix Wealth Advisors’ holdings in Lockheed Martin were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. AlphaQuest LLC increased its position in shares of Lockheed Martin by 14.8% during the first quarter. AlphaQuest LLC now owns 4,053 shares of the aerospace company’s stock valued at $1,811,000 after buying an additional 522 shares during the period. Van Hulzen Asset Management LLC increased its position in shares of Lockheed Martin by 3.2% in the first quarter. Van Hulzen Asset Management LLC now owns 2,532 shares of the aerospace company’s stock worth $1,131,000 after purchasing an additional 79 shares during the last quarter. Strategies Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the first quarter worth approximately $294,000. Barnes Wealth Management Group Inc increased its position in shares of Lockheed Martin by 14.5% in the first quarter. Barnes Wealth Management Group Inc now owns 544 shares of the aerospace company’s stock worth $243,000 after purchasing an additional 69 shares during the last quarter. Finally, Norinchukin Bank The increased its position in shares of Lockheed Martin by 16.1% in the first quarter. Norinchukin Bank The now owns 11,744 shares of the aerospace company’s stock worth $5,246,000 after purchasing an additional 1,630 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $445.7320 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The company has a market cap of $104.06 billion, a PE ratio of 25.10, a P/E/G ratio of 1.57 and a beta of 0.27. The business has a 50 day moving average of $448.65 and a 200 day moving average of $456.29. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts’ consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 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 26th. Investors of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s dividend payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

LMT has been the subject of several research reports. Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 23rd. Susquehanna cut their target price on Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a “market perform” rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group dropped their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $506.35.

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.