New World Advisors LLC Acquires New Shares in Lockheed Martin Corporation $LMT

New World Advisors LLC bought a new stake in Lockheed Martin Corporation (NYSE:LMT) during the second quarter, Holdings Channel reports. The institutional investor bought 442 shares of the aerospace company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after buying an additional 214,565 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Lockheed Martin by 7.5% during the first 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 acquiring an additional 560,457 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lockheed Martin by 0.4% in the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after acquiring an additional 19,459 shares during the last quarter. Royal Bank of Canada grew its position in Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock worth $1,021,846,000 after acquiring an additional 31,443 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of 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 purchasing an additional 12,899 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.7%

LMT stock opened at $460.15 on Friday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $546.00. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The company has a market cap of $106.48 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.69 and a beta of 0.25. The business’s 50-day simple moving average is $484.68 and its 200 day simple moving average is $466.89.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS 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 company had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same quarter last year, the company earned $6.84 EPS. The company’s quarterly 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, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio is presently 77.05%.

Insider Transactions at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the stock in a transaction on Thursday, October 23rd. The shares were 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 in the company, valued at approximately $491.04. This represents a 99.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. Sanford C. Bernstein lifted their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Truist Financial raised their target price on Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Bank of America reduced their target price on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $513.47.

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.