Easterly Investment Partners LLC Has $3.09 Million Position in Lockheed Martin Corporation $LMT

Key Points

• Easterly Investment Partners LLC significantly increased its stake in Lockheed Martin by 137.4% to a total of 6,672 shares, valued at $3.09 million, as of the end of the 2nd quarter.
• Lockheed Martin recently announced a quarterly dividend increase to $3.45 per share, reflecting a boost from the previous dividend of $3.30, with a dividend yield of 2.8%.
• The stock price of Lockheed Martin decreased by 1.4%, with current trading around $492.65, while the company reported better-than-expected earnings of $7.29 per share for the latest quarter.

Easterly Investment Partners LLC raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 137.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,672 shares of the aerospace company's stock after acquiring an additional 3,862 shares during the quarter. Easterly Investment Partners LLC's holdings in Lockheed Martin were worth $3,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew 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 in the last quarter. Royal Bank of Canada grew its stake in Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock valued at $1,021,846,000 after purchasing an additional 31,443 shares in the last quarter. Invesco Ltd. grew its stake in Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lockheed Martin by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock worth $580,317,000 after purchasing an additional 24,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Lockheed Martin by 4.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock worth $518,937,000 after purchasing an additional 51,522 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.4%

Shares of NYSE LMT opened at $492.65 on Friday. The stock has a market capitalization of $115.01 billion, a P/E ratio of 27.74, a PEG ratio of 1.75 and a beta of 0.28. The stock's fifty day moving average is $470.54 and its 200 day moving average is $464.37. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 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.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data 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 for 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 business's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, December 1st. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.8%. Lockheed Martin's dividend payout ratio is currently 74.32%.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Lockheed Martin from $530.00 to $630.00 and gave the company an "overweight" rating in a research note on Wednesday. Wall Street Zen cut 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 set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft set a $519.00 target price on Lockheed Martin and gave the stock a "hold" rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and a consensus 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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