Glenview Trust co Acquires 3,393 Shares of Lockheed Martin Corporation $LMT

Glenview Trust co boosted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.3% in the second quarter, HoldingsChannel reports. The firm owned 57,570 shares of the aerospace company’s stock after acquiring an additional 3,393 shares during the period. Glenview Trust co’s holdings in Lockheed Martin were worth $26,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC lifted its holdings in Lockheed Martin by 21.2% during the 1st quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company’s stock worth $18,038,000 after buying an additional 7,052 shares in the last quarter. Laffer Tengler Investments Inc. increased its stake in shares of Lockheed Martin by 482.6% in the 2nd quarter. Laffer Tengler Investments Inc. now owns 6,979 shares of the aerospace company’s stock valued at $3,232,000 after buying an additional 5,781 shares during the period. Modera Wealth Management LLC raised its position in shares of Lockheed Martin by 3.1% during the second quarter. Modera Wealth Management LLC now owns 32,333 shares of the aerospace company’s stock worth $14,975,000 after acquiring an additional 971 shares during the last quarter. Founders Capital Management lifted its stake in shares of Lockheed Martin by 46.9% during the second quarter. Founders Capital Management now owns 14,568 shares of the aerospace company’s stock valued at $6,747,000 after acquiring an additional 4,648 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its stake in shares of Lockheed Martin by 17.1% during the first quarter. Brandywine Global Investment Management LLC now owns 386,007 shares of the aerospace company’s stock valued at $172,433,000 after acquiring an additional 56,335 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of the business’s stock in a transaction on 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 sale, the chief operating officer directly owned 1 shares in the company, valued at $491.04. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Lockheed Martin Stock Up 0.3%

Shares of Lockheed Martin stock opened at $468.47 on Thursday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $516.00. The business has a 50-day moving average of $477.02 and a two-hundred day moving average of $465.55. The company has a market capitalization of $108.40 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping the consensus estimate 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 period last year, the business earned $6.84 EPS. The business’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. As a group, equities analysts predict 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. Shareholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 annualized dividend and a yield of 2.9%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s payout ratio is 77.05%.

Analysts Set New Price Targets

LMT has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective 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. Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Bank of America dropped their price target 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 restated a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $519.00 target price on shares of Lockheed Martin and gave the stock a “hold” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average target price of $515.50.

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.