Wealthspire Advisors LLC Buys 246 Shares of Lockheed Martin Corporation $LMT

Wealthspire Advisors LLC boosted its stake in Lockheed Martin Corporation (NYSE:LMT) by 3.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,808 shares of the aerospace company’s stock after purchasing an additional 246 shares during the period. Wealthspire Advisors LLC’s holdings in Lockheed Martin were worth $3,616,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Morgan Stanley boosted their target price 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. Bank of America dropped their target price on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. 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 report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $519.00 price target on Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average price target of $513.47.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of Lockheed Martin 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 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 filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Trading Down 1.0%

NYSE LMT opened at $470.06 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The stock’s 50-day simple moving average is $484.94 and its two-hundred day simple moving average is $466.96. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $546.00. The company has a market capitalization of $108.77 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. The company had revenue of $18.61 billion for 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%.Lockheed Martin’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $6.84 EPS. 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 announced 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 is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is 77.05%.

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.