Centric Wealth Management Grows Stock Position in Lockheed Martin Corporation $LMT

Key Points

• Centric Wealth Management increased its stake in Lockheed Martin Corporation by 58.2%, acquiring an additional 1,770 shares for a total of 4,813 shares, valued at $2.15 million.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, with an annualized dividend yield of 2.9%, set to be paid on September 26th.
• The stock of Lockheed Martin has a current market cap of $106.36 billion and recent earnings per share of $7.29, indicating a strong performance against analyst expectations.

Centric Wealth Management boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 58.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,813 shares of the aerospace company's stock after purchasing an additional 1,770 shares during the quarter. Centric Wealth Management's holdings in Lockheed Martin were worth $2,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC acquired a new position in Lockheed Martin in the 1st quarter valued at about $31,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $35,000. Banque Transatlantique SA acquired a new position in Lockheed Martin in the 4th quarter valued at about $43,000. EQ Wealth Advisors LLC acquired a new position in Lockheed Martin in the 1st quarter valued at about $43,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new position in Lockheed Martin in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price objective for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. UBS Group dropped their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. 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 stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus price target of $506.35.

Lockheed Martin Trading Down 0.7%

LMT traded down $3.38 on Tuesday, reaching $452.25. 1,341,144 shares of the company's stock were exchanged, compared to its average volume of 1,420,901. The company's 50 day moving average is $446.65 and its 200-day moving average is $456.99. The company has a market cap of $105.58 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.60 and a beta of 0.26. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. 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 (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

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.