Biondo Investment Advisors LLC Makes New Investment in Lockheed Martin Corporation $LMT

Key Points

• Biondo Investment Advisors initiated a Lockheed Martin position worth approximately $12.0 million, buying 23,608 shares during the second quarter. Institutional investors collectively own 74.19% of the company.
• Lockheed Martin reported strong quarterly results, with earnings of $7.94 per share and revenue of $20.06 billion, beating estimates; revenue increased 10.5% year over year.
• The company declared a quarterly dividend of $3.45 per share, equivalent to $13.80 annually and a 2.4% yield. Analysts maintain a consensus “Hold” rating with a target price of $632.39.

Biondo Investment Advisors LLC purchased a new position in Lockheed Martin Corporation (NYSE:LMT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,608 shares of the aerospace company's stock, valued at approximately $12,027,000. Lockheed Martin comprises 1.5% of Biondo Investment Advisors LLC's investment portfolio, making the stock its 24th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Basso Capital Management L.P. purchased a new stake in Lockheed Martin during the 4th quarter valued at $25,000. Burnham & Co LLC bought a new position in Lockheed Martin during the second quarter valued at $25,000. United Financial Planning Group LLC bought a new position in Lockheed Martin during the third quarter valued at $25,000. Clarity Asset Management Inc. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $26,000. Finally, Triumph Capital Management lifted its holdings in shares of Lockheed Martin by 66.7% in the 4th quarter. Triumph Capital Management now owns 55 shares of the aerospace company's stock worth $26,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.2%

NYSE:LMT opened at $564.61 on Monday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. Lockheed Martin Corporation has a 1-year low of $437.25 and a 1-year high of $692.00. The company has a 50-day moving average of $547.80 and a 200 day moving average of $575.31. The firm has a market cap of $130.31 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, beating the consensus estimate of $7.22 by $0.72. Lockheed Martin had a net margin of 8.16% and a return on equity of 91.42%. The business had revenue of $20.06 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The company'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. As a group, research analysts anticipate that Lockheed Martin Corporation will post 30.39 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be issued a $3.45 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.4%. Lockheed Martin's dividend payout ratio (DPR) is currently 50.87%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. 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 note on Tuesday, May 5th. DZ Bank raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Jefferies Financial Group reissued a "hold" rating on shares of Lockheed Martin in a research note on Sunday, July 26th. Morgan Stanley upped their target price on Lockheed Martin from $653.00 to $690.00 and gave the company an "equal weight" rating in a research note on Friday, July 24th. Finally, UBS Group reiterated a "neutral" rating and issued a $581.00 price target on shares of Lockheed Martin in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of "Hold" and a consensus target price of $632.39.

Lockheed Martin Company Profile

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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