Canandaigua National Trust Co of Florida Has $1.05 Million Stock Position in Lockheed Martin Corporation $LMT

Canandaigua National Trust Co of Florida grew its stake in Lockheed Martin Corporation (NYSE:LMT) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,259 shares of the aerospace company’s stock after purchasing an additional 280 shares during the quarter. Lockheed Martin comprises approximately 0.7% of Canandaigua National Trust Co of Florida’s holdings, making the stock its 25th largest holding. Canandaigua National Trust Co of Florida’s holdings in Lockheed Martin were worth $1,046,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Lockheed Martin by 7.5% in 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 period. Royal Bank of Canada raised its stake in Lockheed Martin by 1.4% during the 1st quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock worth $1,021,846,000 after buying an additional 31,443 shares during the period. Invesco Ltd. raised its stake in Lockheed Martin by 0.6% during the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock worth $958,116,000 after buying an additional 12,899 shares during the period. GAMMA Investing LLC raised its stake in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after buying an additional 1,986,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Lockheed Martin by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company’s stock worth $580,317,000 after buying an additional 24,512 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LMT. Bank of America dropped their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Wall Street Zen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a “market perform” rating in a research note on Monday, July 14th. TD Cowen reissued a “hold” rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $494.00.

Lockheed Martin Trading Up 0.1%

Lockheed Martin stock opened at $471.10 on Monday. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The stock has a market capitalization of $109.98 billion, a P/E ratio of 26.53, a PEG ratio of 1.66 and a beta of 0.26. The stock has a 50-day simple moving average of $446.39 and a 200 day simple moving average of $458.41.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.59 billion. During the same quarter in the previous year, the company posted $7.11 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s payout ratio is currently 74.32%.

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.