Callahan Advisors LLC Increases Position in Lockheed Martin Corporation $LMT

Key Points

• Callahan Advisors LLC increased its stake in Lockheed Martin by 21.3% to a total of 4,697 shares valued at approximately $2.175 million as of the end of the second quarter.
• Lockheed Martin reported earnings per share of $7.29 for the second quarter, surpassing estimates, but a revenue of $18.16 billion slightly missed analyst expectations.
• The company has announced a boost in its quarterly dividend from $3.30 to $3.45 per share, set to be paid on December 30, representing a 2.8% yield.

Callahan Advisors LLC grew its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 21.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,697 shares of the aerospace company's stock after acquiring an additional 824 shares during the quarter. Callahan Advisors LLC's holdings in Lockheed Martin were worth $2,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. Charles Schwab Investment Management Inc. increased its holdings in shares of Lockheed Martin by 7.5% in the 1st 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 acquiring an additional 560,457 shares during the period. Nuveen LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at $221,790,000. AQR Capital Management LLC increased its holdings in shares of Lockheed Martin by 76.7% in the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock valued at $361,045,000 after acquiring an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Lockheed Martin by 17,506.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock valued at $135,985,000 after acquiring an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Lockheed Martin by 59.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company's stock valued at $333,859,000 after acquiring an additional 278,121 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.2%

Lockheed Martin stock opened at $499.17 on Thursday. 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's 50-day simple moving average is $469.31 and its two-hundred day simple moving average is $464.06. The company has a market cap of $116.54 billion, a PE ratio of 28.11, a PEG ratio of 1.78 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly 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 business had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders 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 2.8%. The ex-dividend date is Monday, December 1st. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio (DPR) is presently 77.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LMT shares. Royal Bank Of Canada lifted their price target on Lockheed Martin from $440.00 to $525.00 and gave the company a "sector perform" rating in a report on Tuesday, October 7th. Vertical Research restated a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. UBS Group dropped their target price on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. TD Cowen restated a "hold" rating and set a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Susquehanna boosted their target price on Lockheed Martin from $490.00 to $590.00 and gave the stock a "positive" rating in a research note on Thursday, October 9th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and an average target price of $510.29.

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.

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