194,002 Shares in Lockheed Martin Corporation $LMT Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al acquired 194,002 shares of Lockheed Martin, valued at approximately $89.85 million, marking an ownership of about 0.08% of the company.
• Lockheed Martin announced a quarterly dividend increase to $3.45 per share, indicating a positive change from the previous dividend of $3.30, with a 2.8% yield.
• In its recent earnings report, Lockheed Martin posted $7.29 earnings per share, surpassing estimates and projecting 27.15 EPS for the current fiscal year.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 194,002 shares of the aerospace company's stock, valued at approximately $89,850,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Lockheed Martin as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Lockheed Martin by 7.5% in the first 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 buying an additional 560,457 shares during the last quarter. Royal Bank of Canada lifted its stake in Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock valued at $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Invesco Ltd. lifted its stake in Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after buying an additional 12,899 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Lockheed Martin by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after buying an additional 24,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Lockheed Martin by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock valued at $518,937,000 after buying an additional 51,522 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.4%

NYSE:LMT opened at $495.24 on Friday. The stock has a fifty day moving average price of $471.93 and a two-hundred day moving average price of $464.78. The stock has a market capitalization of $115.62 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.74 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.Lockheed Martin's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.8%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's dividend payout ratio is currently 77.70%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research reports. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Vertical Research restated a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research note on Tuesday, July 22nd. The Goldman Sachs Group increased their price target on Lockheed Martin from $398.00 to $425.00 and gave the stock a "sell" rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price target on Lockheed Martin from $440.00 to $525.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus price target of $510.29.

Lockheed Martin Company 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.

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