Purkiss Capital Advisors LLC Has $604,000 Holdings in Lockheed Martin Corporation $LMT

Purkiss Capital Advisors LLC boosted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 64.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,304 shares of the aerospace company’s stock after acquiring an additional 513 shares during the period. Purkiss Capital Advisors LLC’s holdings in Lockheed Martin were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Nuveen LLC acquired a new stake in Lockheed Martin during the 1st quarter worth approximately $221,790,000. AQR Capital Management LLC lifted its stake in Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock valued at $361,045,000 after buying an additional 350,796 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 17,506.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock valued at $135,985,000 after buying an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Lockheed Martin by 59.3% during the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock worth $333,859,000 after acquiring an additional 278,121 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America cut their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. Truist Financial increased their price objective on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Robert W. Baird lifted their target price on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. 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 assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $513.47.

Lockheed Martin Price Performance

NYSE:LMT opened at $486.96 on Tuesday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $576.43. The company has a market cap of $112.68 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.69 and a beta of 0.28. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The stock’s 50-day simple moving average is $478.44 and its 200 day simple moving average is $466.74.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating the consensus estimate of $6.33 by $0.62. The firm had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. 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. Lockheed Martin’s payout ratio is currently 77.05%.

Insider Buying and Selling at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the transaction, the chief operating officer directly owned 1 shares in the company, valued at approximately $491.04. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.