Harvest Portfolios Group Inc. Increases Stake in Lockheed Martin Corporation $LMT

Harvest Portfolios Group Inc. lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 8.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,252 shares of the aerospace company’s stock after purchasing an additional 317 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Lockheed Martin were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Tyler Stone Wealth Management grew its stake in Lockheed Martin by 3.3% during the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company’s stock valued at $306,000 after purchasing an additional 22 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in Lockheed Martin by 4.7% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company’s stock valued at $225,000 after buying an additional 22 shares during the last quarter. Broadway Wealth Solutions Inc. increased its holdings in Lockheed Martin by 4.5% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company’s stock worth $237,000 after buying an additional 22 shares during the period. Smith Thornton Advisors LLC raised its position in Lockheed Martin by 2.8% during the 1st quarter. Smith Thornton Advisors LLC now owns 837 shares of the aerospace company’s stock worth $374,000 after buying an additional 23 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in Lockheed Martin by 2.0% during the 1st quarter. Gilbert & Cook Inc. now owns 1,198 shares of the aerospace company’s stock valued at $535,000 after acquiring an additional 23 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of Lockheed Martin stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the sale, the chief operating officer directly owned 1 shares of the company’s stock, valued at $491.04. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Lockheed Martin Stock Down 2.3%

Shares of LMT opened at $457.93 on Friday. The firm has a market cap of $105.96 billion, a P/E ratio of 25.57, a PEG ratio of 1.69 and a beta of 0.25. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $576.43. The stock’s 50 day moving average is $483.98 and its two-hundred day moving average is $467.51. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping 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 business had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same period in the prior year, the company posted $6.84 EPS. The business’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. Analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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 dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 3.0%. Lockheed Martin’s payout ratio is currently 77.05%.

Analyst Ratings Changes

Several equities research analysts have weighed in on LMT shares. UBS Group cut their price target on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 22nd. Wall Street Zen raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Susquehanna boosted their price target on Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a report on Thursday, October 9th. The Goldman Sachs Group upped their price objective on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $513.47.

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.