Bank of Nova Scotia Acquires Shares of 157,217 Lockheed Martin Corporation $LMT

Key Points

• Bank of Nova Scotia acquired 157,217 Lockheed Martin shares worth approximately $80.1 million, giving it a 0.07% stake. Institutional investors and hedge funds collectively own 74.19% of the company.
• Lockheed Martin exceeded quarterly expectations, reporting $7.94 in earnings per share and $20.06 billion in revenue, with revenue up 10.5% year over year. The company forecasts fiscal 2026 EPS of $29.95–$30.65.
• Lockheed Martin declared a quarterly dividend of $3.45, equivalent to $13.80 annually and a 2.4% yield. Analysts’ consensus rating is Hold, with an average price target of $632.39.

Bank of Nova Scotia purchased a new position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 157,217 shares of the aerospace company's stock, valued at approximately $80,096,000. Bank of Nova Scotia owned approximately 0.07% of Lockheed Martin at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cerro Pacific Wealth Advisors LLC raised its position in shares of Lockheed Martin by 1.2% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 1,376 shares of the aerospace company's stock valued at $665,000 after buying an additional 16 shares during the last quarter. Garner Asset Management Corp grew its position in Lockheed Martin by 0.9% during the fourth quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company's stock worth $839,000 after buying an additional 16 shares in the last quarter. Davis R M Inc. grew its position in Lockheed Martin by 1.3% during the fourth quarter. Davis R M Inc. now owns 1,264 shares of the aerospace company's stock worth $612,000 after buying an additional 16 shares in the last quarter. Broadway Wealth Solutions Inc. increased its stake in Lockheed Martin by 3.6% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 484 shares of the aerospace company's stock valued at $234,000 after acquiring an additional 17 shares during the period. Finally, Aspire Growth Partners LLC raised its holdings in Lockheed Martin by 0.7% in the 4th quarter. Aspire Growth Partners LLC now owns 2,515 shares of the aerospace company's stock valued at $1,217,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Down 1.2%

Shares of NYSE LMT opened at $564.61 on Friday. The firm has a 50 day moving average price of $547.80 and a 200 day moving average price of $575.73. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.01 and a current ratio of 1.19. The stock has a market cap of $130.31 billion, a P/E ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 0.10. Lockheed Martin Corporation has a 52-week low of $437.25 and a 52-week high of $692.00.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share 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 for the quarter, compared to analysts' expectations of $19.34 billion. During the same period last year, the firm posted $1.46 earnings per share. The business's quarterly revenue 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. Analysts expect that Lockheed Martin Corporation will post 30.39 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a $3.45 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.4%. Lockheed Martin's payout ratio is currently 50.87%.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $680.00 to $605.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Weiss Ratings raised Lockheed Martin from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Lockheed Martin in a research note on Friday, May 29th. Citigroup increased their target price on Lockheed Martin from $641.00 to $691.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, TD Cowen cut their target price on Lockheed Martin from $600.00 to $560.00 and set a "hold" rating for the company in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $632.39.

About Lockheed Martin

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.

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