WASHINGTON TRUST Co Acquires 171 Shares of Lockheed Martin Corporation $LMT

WASHINGTON TRUST Co lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,673 shares of the aerospace company’s stock after purchasing an additional 171 shares during the period. WASHINGTON TRUST Co’s holdings in Lockheed Martin were worth $14,206,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at approximately $28,000. Frazier Financial Advisors LLC purchased a new position in Lockheed Martin during the second quarter worth about $34,000. GFG Capital LLC acquired a new position in shares of Lockheed Martin in the second quarter valued at approximately $43,000. Bernard Wealth Management Corp. lifted its stake in Lockheed Martin by 251.9% in the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 68 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new position in Lockheed Martin in the first quarter valued at approximately $45,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.5%

LMT traded up $2.44 on Thursday, hitting $459.48. The company had a trading volume of 83,900 shares, compared to its average volume of 1,579,153. The stock has a market capitalization of $106.32 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.69 and a beta of 0.25. The stock has a fifty day moving average price of $484.17 and a 200-day moving average price of $467.26. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $561.35.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $6.84 EPS. The company’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. Analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio is currently 77.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a report on Thursday, October 9th. Morgan Stanley boosted their target price on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada raised their price objective on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. UBS Group decreased their price target on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group raised their target price on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $513.47.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of Lockheed Martin stock in a transaction dated 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. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.