Legal & General Group Plc Takes $497.47 Million Position in Lockheed Martin Corporation $LMT

Legal & General Group Plc acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 976,464 shares of the aerospace company’s stock, valued at approximately $497,469,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Lockheed Martin in the second quarter valued at approximately $9,617,574,000. Bank of New York Mellon Corp acquired a new position in shares of Lockheed Martin during the second quarter worth $645,258,000. Diamant Asset Management Inc. lifted its holdings in shares of Lockheed Martin by 60,339.0% during the 1st quarter. Diamant Asset Management Inc. now owns 879,387 shares of the aerospace company’s stock valued at $531,493,000 after purchasing an additional 877,932 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Lockheed Martin by 107.3% during the 4th quarter. AQR Capital Management LLC now owns 1,293,823 shares of the aerospace company’s stock valued at $625,784,000 after purchasing an additional 669,604 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth $274,558,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Citigroup increased their price target on Lockheed Martin from $641.00 to $691.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Royal Bank Of Canada raised their price target on Lockheed Martin from $575.00 to $600.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Jefferies Financial Group restated a “hold” rating on shares of Lockheed Martin in a research note on Sunday, July 26th. Finally, Robert W. Baird set a $700.00 price objective on shares of Lockheed Martin in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average target price of $632.39.

Lockheed Martin Trading Down 1.3%

Lockheed Martin stock opened at $556.95 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 2.34. Lockheed Martin Corporation has a 52 week low of $437.25 and a 52 week high of $692.00. The company has a market capitalization of $128.54 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10. The stock has a 50-day moving average price of $548.90 and a 200 day moving average price of $574.52.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.72. Lockheed Martin had a net margin of 8.16% and a return on equity of 91.42%. The company had revenue of $20.06 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period last year, the firm posted $1.46 EPS. Lockheed Martin’s revenue for the quarter was up 10.5% compared to the same quarter last year. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. Sell-side analysts anticipate that Lockheed Martin Corporation will post 30.39 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be paid a $3.45 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.5%. Lockheed Martin’s dividend payout ratio is presently 50.87%.

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.