Lewis Asset Management LLC Grows Position in Lockheed Martin Corporation $LMT

Lewis Asset Management LLC raised its holdings in Lockheed Martin Corporation (NYSE:LMT) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 531 shares of the aerospace company’s stock after acquiring an additional 69 shares during the period. Lewis Asset Management LLC’s holdings in Lockheed Martin were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at about $31,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at about $35,000. EQ Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at about $43,000. Ritter Daniher Financial Advisory LLC DE purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $45,000. Finally, McIlrath & Eck LLC raised its holdings in shares of Lockheed Martin by 161.0% during the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock valued at $48,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 1.6%

Shares of NYSE:LMT opened at $480.50 on Tuesday. The stock has a fifty day simple moving average of $447.32 and a two-hundred day simple moving average of $459.12. The stock has a market capitalization of $112.18 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.66 and a beta of 0.26. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

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

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.7%. Lockheed Martin’s dividend payout ratio is 74.32%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LMT. Truist Financial cut Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Wall Street Zen cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. UBS Group decreased their price objective on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Finally, TD Cowen reissued a “hold” rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average price target of $494.00.

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.