Fifth Third Wealth Advisors LLC Purchases 2,399 Shares of Lockheed Martin Corporation $LMT

Key Points

• Fifth Third Wealth Advisors LLC has increased its ownership in Lockheed Martin Corporation by 48.4%, owning a total of 7,359 shares worth approximately $3.41 million as of the latest report.
• Lockheed Martin announced a dividend increase to $3.45 per share, up from $3.30, which will be distributed on December 30th, indicating a 2.7% dividend yield.
• Analysts have mixed ratings on Lockheed Martin stock, with a consensus rating of "Hold" and an average price target set at $503.13.

Fifth Third Wealth Advisors LLC increased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 48.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,359 shares of the aerospace company's stock after purchasing an additional 2,399 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Lockheed Martin were worth $3,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lester Murray Antman dba SimplyRich lifted its position in Lockheed Martin by 1.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 3,195 shares of the aerospace company's stock worth $1,479,000 after purchasing an additional 45 shares during the period. Lindenwold Advisors INC lifted its position in Lockheed Martin by 2.0% during the second quarter. Lindenwold Advisors INC now owns 3,340 shares of the aerospace company's stock worth $1,547,000 after purchasing an additional 65 shares during the period. Trust Co. of Toledo NA OH lifted its position in Lockheed Martin by 1.3% during the second quarter. Trust Co. of Toledo NA OH now owns 11,153 shares of the aerospace company's stock worth $5,165,000 after purchasing an additional 147 shares during the period. Bernard Wealth Management Corp. lifted its position in Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock worth $44,000 after purchasing an additional 68 shares during the period. Finally, Aberdeen Group plc lifted its position in Lockheed Martin by 6.6% during the second quarter. Aberdeen Group plc now owns 22,028 shares of the aerospace company's stock worth $10,202,000 after purchasing an additional 1,370 shares during the period. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LMT shares. UBS Group dropped their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Alembic Global Advisors raised shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $503.13.

Lockheed Martin Stock Down 0.5%

Shares of NYSE LMT opened at $505.11 on Friday. The company has a 50 day simple moving average of $464.89 and a 200 day simple moving average of $462.82. The firm has a market cap of $117.92 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.28. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

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

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. Lockheed Martin's payout ratio is 74.32%.

Lockheed Martin 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.

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