Adage Capital Partners GP L.L.C. Purchases 174,438 Shares of Lockheed Martin Corporation $LMT

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Lockheed Martin, purchasing 174,438 shares to reach a total of 215,509 shares, valued at approximately $96.27 million.
• Lockheed Martin's earnings report showed an EPS of $7.29, surpassing analyst expectations, although revenue was slightly below estimates at $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, translating to an annualized dividend yield of 2.9%, with a payout ratio of 74.32%.

Adage Capital Partners GP L.L.C. increased its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 424.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,509 shares of the aerospace company's stock after purchasing an additional 174,438 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Lockheed Martin worth $96,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the first quarter worth $31,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter worth $35,000. EQ Wealth Advisors LLC bought a new position in Lockheed Martin in the first quarter worth $43,000. Ritter Daniher Financial Advisory LLC DE bought a new position in Lockheed Martin in the first quarter worth $45,000. Finally, Dagco Inc. bought a new position in Lockheed Martin in the first quarter worth $50,000. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on LMT shares. Robert W. Baird reduced their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada cut their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Alembic Global Advisors raised Lockheed Martin from a "neutral" rating to an "overweight" rating in a report on Thursday, August 28th. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, Vertical Research reissued a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $452.25 on Wednesday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm has a market cap of $105.58 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.60 and a beta of 0.26. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The business has a fifty day moving average of $446.49 and a 200-day moving average of $456.95.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.9%. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

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.

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