Summit Global Investments Has $13.15 Million Position in Lockheed Martin Corporation $LMT

Summit Global Investments raised its holdings in Lockheed Martin Corporation (NYSE:LMT) by 41.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,398 shares of the aerospace company’s stock after acquiring an additional 8,276 shares during the quarter. Lockheed Martin comprises approximately 0.8% of Summit Global Investments’ holdings, making the stock its 17th largest position. Summit Global Investments’ holdings in Lockheed Martin were worth $13,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Tableaux LLC lifted its position in shares of Lockheed Martin by 34,231.4% in the second quarter. Tableaux LLC now owns 623,115 shares of the aerospace company’s stock worth $288,589,000 after buying an additional 621,300 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lockheed Martin by 7.5% in 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 purchasing an additional 560,457 shares during the last quarter. Nuveen LLC bought a new stake in Lockheed Martin during the first quarter worth approximately $221,790,000. AQR Capital Management LLC raised its position in shares of Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock valued at $361,045,000 after purchasing an additional 350,796 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Lockheed Martin by 17,506.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after buying an additional 302,684 shares during the last quarter. 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 stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the completion of the transaction, the chief operating officer directly owned 1 shares in the company, valued at $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LMT. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $519.00 target price on Lockheed Martin and gave the company a “hold” rating in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Robert W. Baird raised their price objective on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, BNP Paribas Exane began coverage on shares of Lockheed Martin in a research note on Tuesday, November 18th. They set an “outperform” rating and a $550.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus target price of $515.50.

Lockheed Martin Stock Performance

LMT opened at $460.15 on Monday. The stock has a market cap of $106.48 billion, a PE ratio of 25.69, a P/E/G ratio of 1.69 and a beta of 0.25. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $546.00. The stock’s 50 day simple moving average is $484.68 and its 200-day simple moving average is $466.85. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same quarter in the prior year, the company posted $6.84 EPS. The business’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. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 3.0%. Lockheed Martin’s dividend payout ratio is 77.05%.

Lockheed Martin 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.