CX Institutional Buys 670 Shares of Lockheed Martin Corporation $LMT

Key Points

• CX Institutional increased its holdings in Lockheed Martin Corporation by 4.5% during the 2nd quarter, now owning 15,521 shares, valued at approximately $7.2 million.
• Lockheed Martin recently reported earnings of $7.29 per share, exceeding analysts' expectations of $6.57, with a revenue of $18.16 billion for the quarter.
• The company announced a quarterly dividend of $3.30 per share, set to be paid on September 26th, representing a 2.8% dividend yield.

CX Institutional lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,521 shares of the aerospace company's stock after buying an additional 670 shares during the period. CX Institutional's holdings in Lockheed Martin were worth $7,188,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in Lockheed Martin in the first quarter valued at approximately $31,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter worth about $35,000. EQ Wealth Advisors LLC bought a new position in Lockheed Martin in the first quarter valued at about $43,000. Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Lockheed Martin during the first quarter worth about $45,000. Finally, McIlrath & Eck LLC grew its holdings in shares of Lockheed Martin by 161.0% during the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock worth $48,000 after purchasing an additional 66 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 1.6%

Shares of NYSE:LMT traded up $7.56 during midday trading on Monday, reaching $480.50. The company's stock had a trading volume of 1,409,493 shares, compared to its average volume of 1,641,491. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week 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. The firm has a 50 day moving average price of $447.18 and a two-hundred day moving average price of $459.07. The firm has a market capitalization of $112.18 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.66 and a beta of 0.26.

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

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 dividend yield of 2.7%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LMT. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Wall Street Zen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Vertical Research reissued a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. UBS Group lowered their target price on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average target price of $494.00.

Lockheed Martin Company 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.