Turtle Creek Wealth Advisors LLC Takes Position in Lockheed Martin Corporation $LMT

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,018 shares of the aerospace company’s stock, valued at approximately $1,861,000.

Other institutional investors also recently bought and sold shares of the company. Entropy Technologies LP boosted its stake in Lockheed Martin by 410.2% in the first quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company’s stock valued at $7,874,000 after acquiring an additional 14,171 shares in the last quarter. PTM Wealth Management LLC acquired a new stake in Lockheed Martin in the first quarter valued at approximately $377,000. First American Bank boosted its stake in Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company’s stock valued at $3,749,000 after acquiring an additional 1,327 shares in the last quarter. Empowered Funds LLC boosted its stake in Lockheed Martin by 21.2% in the first quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company’s stock valued at $18,038,000 after acquiring an additional 7,052 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Lockheed Martin by 18.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company’s stock valued at $7,652,000 after acquiring an additional 2,686 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 1.2%

NYSE LMT opened at $499.17 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The company has a fifty day simple moving average of $469.31 and a two-hundred day simple moving average of $464.06. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock has a market cap of $116.54 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.78 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s dividend payout ratio is 77.70%.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a “market perform” rating in a research note on Monday, July 14th. Royal Bank Of Canada raised their price target on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Morgan Stanley raised their price target on shares of Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $510.29.

About Lockheed Martin

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.