Topsail Wealth Management LLC Cuts Position in Lockheed Martin Corporation $LMT

Topsail Wealth Management LLC decreased its holdings in Lockheed Martin Corporation (NYSE:LMT) by 12.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 667 shares of the aerospace company’s stock after selling 96 shares during the quarter. Topsail Wealth Management LLC’s holdings in Lockheed Martin were worth $309,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Entropy Technologies LP grew its holdings 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 purchasing an additional 14,171 shares during the last quarter. PTM Wealth Management LLC acquired a new stake in Lockheed Martin in the first quarter valued at $377,000. Empowered Funds LLC grew its holdings 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 purchasing an additional 7,052 shares during the last quarter. Founders Capital Management grew its holdings in Lockheed Martin by 46.9% in the second quarter. Founders Capital Management now owns 14,568 shares of the aerospace company’s stock valued at $6,747,000 after purchasing an additional 4,648 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Lockheed Martin in the first quarter valued at $413,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.5%

Shares of NYSE:LMT opened at $485.59 on Friday. The stock’s 50-day moving average price is $477.51 and its two-hundred day moving average price is $466.54. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 3.32. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $576.43. The firm has a market cap of $112.37 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 1.60 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The firm had revenue of $18.61 billion for the quarter, compared to analyst estimates of $18.45 billion. During the same period last year, the company earned $6.84 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio is 73.70%.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a report on Saturday. Royal Bank Of Canada increased their price objective on Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. TD Cowen reaffirmed a “hold” rating and set a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $513.47.

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.