Lockheed Martin Corporation $LMT Position Boosted by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,747 shares of the aerospace company’s stock after purchasing an additional 44 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Lockheed Martin were worth $809,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. waypoint wealth counsel purchased a new stake in Lockheed Martin during the second quarter valued at about $260,000. Inman Jager Wealth Management LLC lifted its stake in Lockheed Martin by 3.8% during the second quarter. Inman Jager Wealth Management LLC now owns 3,674 shares of the aerospace company’s stock valued at $1,702,000 after buying an additional 133 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Lockheed Martin by 1.7% during the second quarter. Apollon Wealth Management LLC now owns 11,423 shares of the aerospace company’s stock valued at $5,290,000 after buying an additional 188 shares in the last quarter. Hemington Wealth Management lifted its stake in Lockheed Martin by 17.1% during the second quarter. Hemington Wealth Management now owns 322 shares of the aerospace company’s stock valued at $149,000 after buying an additional 47 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Lockheed Martin by 48.4% during the second quarter. Fifth Third Wealth Advisors LLC now owns 7,359 shares of the aerospace company’s stock valued at $3,408,000 after buying an additional 2,399 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of analyst reports. Alembic Global Advisors raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. Robert W. Baird upped their price objective on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. TD Cowen reaffirmed a “hold” rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Cowen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $503.13.

Lockheed Martin Price Performance

Shares of LMT opened at $505.11 on Friday. The firm has a market cap of $117.92 billion, a PE ratio of 28.44, a PEG ratio of 1.78 and a beta of 0.28. The firm’s 50 day moving average price is $464.89 and its 200 day moving average price is $462.95. 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 twelve month low of $410.11 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.7%. Lockheed Martin’s payout ratio 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.