1,792 Shares in Lockheed Martin Corporation $LMT Acquired by Westpac Banking Corp

Westpac Banking Corp acquired a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,792 shares of the aerospace company’s stock, valued at approximately $830,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Lockheed Martin during the second quarter valued at approximately $28,000. Frazier Financial Advisors LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $34,000. MTM Investment Management LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter worth $36,000. GFG Capital LLC bought a new position in Lockheed Martin in the 2nd quarter worth $43,000. Finally, Bernard Wealth Management Corp. raised its holdings in Lockheed Martin by 251.9% in the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.1%

LMT stock traded down $0.41 during mid-day trading on Monday, reaching $465.37. 107,647 shares of the stock traded hands, compared to its average volume of 1,574,186. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $546.00. The stock has a market capitalization of $107.68 billion, a PE ratio of 25.98, a PEG ratio of 1.69 and a beta of 0.25. 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 business has a 50-day moving average price of $484.22 and a two-hundred day moving average price of $466.97.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 5.73% and a return on equity of 111.84%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This is a positive change 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%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is currently 77.05%.

Insider Buying and Selling at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the 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 in the company, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LMT shares. Truist Financial increased their target price on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. UBS Group cut their price target on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating for the company in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average price target 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.