Smart Money Group LLC Purchases 251 Shares of Lockheed Martin Corporation $LMT

Smart Money Group LLC increased its holdings in Lockheed Martin Corporation (NYSE:LMT) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,275 shares of the aerospace company’s stock after acquiring an additional 251 shares during the period. Smart Money Group LLC’s holdings in Lockheed Martin were worth $1,054,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position 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 during the last quarter. Nuveen LLC purchased a new stake in Lockheed Martin during the first quarter worth about $221,790,000. AQR Capital Management LLC raised its position 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 worth $361,045,000 after acquiring an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in 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 acquiring an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Lockheed Martin by 59.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock valued at $333,859,000 after acquiring an additional 278,121 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LMT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Alembic Global Advisors raised Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Robert W. Baird upped their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Bank of America decreased their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. Finally, Morgan Stanley upped their price objective on shares of Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. One 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 stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $513.47.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the transaction, the chief operating officer owned 1 shares of the company’s stock, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $469.15 on Friday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $576.43. The stock’s 50-day simple moving average is $483.93 and its 200 day simple moving average is $467.51. 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 has a market capitalization of $108.56 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $18.45 billion. During the same period in the prior year, the business posted $6.84 earnings per share. The company’s 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. Research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.9%. Lockheed Martin’s dividend payout ratio (DPR) is presently 77.05%.

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.