First Merchants Corp Has $1.02 Million Holdings in Lockheed Martin Corporation $LMT

First Merchants Corp lessened its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 34.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,194 shares of the aerospace company’s stock after selling 1,173 shares during the quarter. First Merchants Corp’s holdings in Lockheed Martin were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock worth $3,587,444,000 after acquiring an additional 560,457 shares during the period. Nuveen LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $221,790,000. AQR Capital Management LLC lifted its holdings in shares of Lockheed Martin by 76.7% during the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock worth $361,045,000 after acquiring an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 17,506.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after acquiring an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Lockheed Martin by 59.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock worth $333,859,000 after acquiring an additional 278,121 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a “market perform” rating in a report on Monday, July 14th. Bank of America dropped their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $503.13.

Lockheed Martin Price Performance

LMT stock opened at $507.51 on Friday. The company has a fifty day moving average price of $463.21 and a 200-day moving average price of $462.39. The company has a market capitalization of $118.49 billion, a P/E ratio of 28.58, a PEG ratio of 1.81 and a beta of 0.28. 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.

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

Lockheed Martin Increases Dividend

The firm also recently declared 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 represents a $13.80 annualized dividend and a dividend yield of 2.7%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.