Bank of Jackson Hole Trust Boosts Stake in Lockheed Martin Corporation $LMT

Bank of Jackson Hole Trust grew its stake in Lockheed Martin Corporation (NYSE:LMT) by 17.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,771 shares of the aerospace company’s stock after buying an additional 262 shares during the period. Bank of Jackson Hole Trust’s holdings in Lockheed Martin were worth $820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMT. Brighton Jones LLC raised its holdings in shares of Lockheed Martin by 5.0% in the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after buying an additional 191 shares during the last quarter. Spinnaker Trust raised its holdings in shares of Lockheed Martin by 7.5% in the first quarter. Spinnaker Trust now owns 721 shares of the aerospace company’s stock worth $322,000 after buying an additional 50 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lockheed Martin in the first quarter worth $129,000. Deseret Mutual Benefit Administrators raised its holdings in shares of Lockheed Martin by 4.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,428 shares of the aerospace company’s stock worth $1,085,000 after buying an additional 110 shares during the last quarter. Finally, Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Lockheed Martin by 31.6% in the first quarter. Benchmark Financial Wealth Advisors LLC now owns 658 shares of the aerospace company’s stock worth $294,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LMT. Cowen cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Thursday, July 10th. Vertical Research reissued a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Alembic Global Advisors raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. Truist Financial raised 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. Finally, Wall Street Zen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $513.47.

Lockheed Martin Stock Down 0.2%

LMT stock opened at $486.05 on Wednesday. The firm has a market cap of $112.47 billion, a PE ratio of 27.14, a P/E/G ratio of 1.70 and a beta of 0.28. 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 firm’s fifty day moving average is $479.34 and its 200 day moving average is $466.88. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $576.43.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating the consensus estimate of $6.33 by $0.62. The company had revenue of $18.61 billion for the quarter, compared to analyst estimates 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 was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a dividend of $3.45 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is 73.70%.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the sale, the chief operating officer owned 1 shares in the company, valued at approximately $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.