Patten & Patten Inc. TN Increases Stake in Lockheed Martin Corporation $LMT

Patten & Patten Inc. TN boosted its stake in Lockheed Martin Corporation (NYSE:LMT) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,224 shares of the aerospace company’s stock after purchasing an additional 103 shares during the period. Patten & Patten Inc. TN’s holdings in Lockheed Martin were worth $1,030,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Callahan Advisors LLC increased its stake in Lockheed Martin by 21.3% in the 2nd quarter. Callahan Advisors LLC now owns 4,697 shares of the aerospace company’s stock worth $2,175,000 after purchasing an additional 824 shares during the period. Mutual Advisors LLC increased its stake in Lockheed Martin by 9.0% in the 2nd quarter. Mutual Advisors LLC now owns 12,298 shares of the aerospace company’s stock worth $5,180,000 after purchasing an additional 1,017 shares during the period. Ritholtz Wealth Management increased its stake in shares of Lockheed Martin by 19.5% during the second quarter. Ritholtz Wealth Management now owns 8,833 shares of the aerospace company’s stock valued at $4,091,000 after buying an additional 1,444 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of Lockheed Martin by 36.8% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,673 shares of the aerospace company’s stock valued at $1,238,000 after buying an additional 719 shares during the period. Finally, JGP Wealth Management LLC increased its stake in shares of Lockheed Martin by 1.4% during the second quarter. JGP Wealth Management LLC now owns 4,206 shares of the aerospace company’s stock valued at $1,948,000 after buying an additional 58 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 1.4%

NYSE LMT opened at $492.65 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. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm has a market capitalization of $115.01 billion, a PE ratio of 27.74, a P/E/G ratio of 1.75 and a beta of 0.28. The stock’s 50 day moving average is $470.54 and its 200 day moving average is $464.37.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the company posted $7.11 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.8%. This is a positive change 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 presently 74.32%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. UBS Group reduced their target price on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. TD Cowen reissued a “hold” rating and set a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group boosted their target price on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $510.29.

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.