Oak Harvest Investment Services Lowers Holdings in Lockheed Martin Corporation $LMT

Oak Harvest Investment Services reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 82.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,615 shares of the aerospace company’s stock after selling 12,104 shares during the period. Oak Harvest Investment Services’ holdings in Lockheed Martin were worth $1,305,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LMT. Austin Private Wealth LLC boosted its holdings in shares of Lockheed Martin by 3.9% in the 3rd quarter. Austin Private Wealth LLC now owns 1,080 shares of the aerospace company’s stock valued at $539,000 after purchasing an additional 41 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Lockheed Martin by 0.8% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 115,534 shares of the aerospace company’s stock worth $57,676,000 after buying an additional 893 shares during the period. Old North State Wealth Management LLC boosted its holdings in Lockheed Martin by 2.0% in the third quarter. Old North State Wealth Management LLC now owns 1,073 shares of the aerospace company’s stock valued at $539,000 after acquiring an additional 21 shares during the last quarter. 1900 Wealth Management LLC purchased a new stake in Lockheed Martin during the third quarter valued at about $336,000. Finally, Goldstone Financial Group LLC increased its stake in Lockheed Martin by 5.0% during the third quarter. Goldstone Financial Group LLC now owns 2,048 shares of the aerospace company’s stock worth $1,022,000 after acquiring an additional 98 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $488.51 on Tuesday. The company’s fifty day moving average price is $470.73 and its two-hundred day moving average price is $465.92. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The firm has a market capitalization of $113.04 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.46 and a beta of 0.24. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $516.00.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (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 business had revenue of $18.61 billion for the quarter, compared to analyst estimates of $18.45 billion. During the same period in the previous year, the company earned $6.84 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. 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 fiscal year.

Lockheed Martin Increases Dividend

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

Insider Transactions at Lockheed Martin

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 shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on LMT. Sanford C. Bernstein lifted their price objective on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. BNP Paribas raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group lifted their target price on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a report on Friday, October 10th. Finally, Citigroup started coverage on Lockheed Martin in a report on Thursday, December 11th. They issued a “neutral” rating and a $505.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $506.67.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.