Lockheed Martin Corporation $LMT Position Boosted by Westchester Capital Management Inc.

Westchester Capital Management Inc. lifted its holdings in Lockheed Martin Corporation (NYSE:LMT) by 0.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 32,274 shares of the aerospace company’s stock after purchasing an additional 255 shares during the period. Lockheed Martin comprises approximately 3.5% of Westchester Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Westchester Capital Management Inc.’s holdings in Lockheed Martin were worth $14,947,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LMT. Charles Schwab Investment Management Inc. increased its position 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 valued at $3,587,444,000 after acquiring an additional 560,457 shares during the period. Nuveen LLC purchased a new stake in shares of Lockheed Martin during the first quarter valued at $221,790,000. AQR Capital Management LLC boosted its holdings 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 worth $361,045,000 after buying an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Lockheed Martin by 17,506.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after purchasing an additional 302,684 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Lockheed Martin by 59.3% during the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock valued at $333,859,000 after buying an additional 278,121 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $505.11 on Monday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a market cap of $117.93 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.77 and a beta of 0.28. The business’s 50 day moving average price is $464.89 and its two-hundred day moving average price is $463.09. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the company posted $7.11 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.7%. Lockheed Martin’s payout ratio is presently 77.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LMT shares. Truist Financial downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Bank of America cut their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. The Goldman Sachs Group increased their target price on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a report on Friday. Finally, TD Cowen reiterated a “hold” rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $503.53.

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.