Financiere des Professionnels Fonds d investissement inc. Buys New Position in Lockheed Martin Corporation $LMT

Key Points

• Financiere des Professionnels Fonds d investissement inc. has purchased 2,469 shares of Lockheed Martin, amounting to approximately $1,143,000; this acquisition is part of their second quarter investments.
• Wall Street analysts hold a consensus rating of "Hold" for Lockheed Martin, with an average price target of $494.00.
• Lockheed Martin recently declared a quarterly dividend of $3.30 per share, with a yield of 2.8%, to be paid on September 26th.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,469 shares of the aerospace company's stock, valued at approximately $1,143,000.

A number of other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Royal Bank of Canada raised its stake in Lockheed Martin by 1.4% during the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock worth $1,021,846,000 after purchasing an additional 31,443 shares during the period. Invesco Ltd. raised its position in shares of Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock worth $958,116,000 after buying an additional 12,899 shares during the period. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after buying an additional 1,986,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Lockheed Martin by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock worth $580,317,000 after buying an additional 24,512 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. UBS Group cut their target price on shares of 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 reissued a "hold" rating and issued a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Susquehanna cut their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research 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 given a Hold rating to the company's stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $0.70 during trading on Friday, hitting $472.92. 2,839,060 shares of the company traded hands, compared to its average volume of 1,642,925. The stock has a market capitalization of $110.41 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.66 and a beta of 0.26. The business's fifty day moving average is $447.07 and its 200-day moving average is $458.94. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior 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, equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.8%. Lockheed Martin's dividend payout ratio is 74.32%.

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.