Spire Wealth Management Lowers Position in Lockheed Martin Corporation $LMT

Spire Wealth Management lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 53.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,230 shares of the aerospace company’s stock after selling 6,116 shares during the period. Spire Wealth Management’s holdings in Lockheed Martin were worth $2,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in Lockheed Martin during the second quarter valued at $28,000. TruNorth Capital Management LLC purchased a new position in Lockheed Martin during the first quarter valued at $31,000. Frazier Financial Advisors LLC purchased a new position in Lockheed Martin during the second quarter valued at $34,000. GFG Capital LLC purchased a new position in Lockheed Martin during the second quarter valued at $43,000. Finally, Bernard Wealth Management Corp. lifted its position in Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

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

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $489.47 on Friday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $576.43. The business has a 50-day simple moving average of $480.97 and a two-hundred day simple moving average of $467.11. 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 has a market cap of $113.26 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The business had revenue of $18.61 billion during the quarter, compared to analyst estimates of $18.45 billion. During the same quarter in the previous year, the firm earned $6.84 EPS. Lockheed Martin’s revenue was up 8.8% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a $3.45 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. Lockheed Martin’s payout ratio is presently 77.05%.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. TD Cowen reissued a “hold” rating and set a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. Vertical Research reaffirmed a “hold” rating and issued a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Finally, Robert W. Baird lifted their price target on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. One research 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $513.47.

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.