First Merchants Corp Has $1.02 Million Position in Lockheed Martin Corporation $LMT

Key Points

• First Merchants Corp decreased its position in Lockheed Martin by 34.8% in the second quarter, owning 2,194 shares valued at approximately $1.02 million after selling 1,173 shares.
• Lockheed Martin recently announced an increase in its quarterly dividend to $3.45 per share, reflecting an annualized dividend of $13.80 and a yield of 2.7%.
• Analysts have mixed ratings for Lockheed Martin, with one Strong Buy, six Buy ratings, and fifteen Hold ratings, and an average target price of $503.13.

First Merchants Corp reduced its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,194 shares of the aerospace company's stock after selling 1,173 shares during the period. First Merchants Corp's holdings in Lockheed Martin were worth $1,016,000 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. Fluent Financial LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at $2,004,000. Narwhal Capital Management grew its position in shares of Lockheed Martin by 1.2% in the 2nd quarter. Narwhal Capital Management now owns 31,901 shares of the aerospace company's stock valued at $14,775,000 after acquiring an additional 373 shares during the period. Valmark Advisers Inc. grew its position in shares of Lockheed Martin by 1.1% in the 2nd quarter. Valmark Advisers Inc. now owns 3,930 shares of the aerospace company's stock valued at $1,820,000 after acquiring an additional 41 shares during the period. Hall Capital Management Co. Inc. grew its position in shares of Lockheed Martin by 1.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 6,155 shares of the aerospace company's stock valued at $2,851,000 after acquiring an additional 106 shares during the period. Finally, Traphagen Investment Advisors LLC grew its position in shares of Lockheed Martin by 4.7% in the 2nd quarter. Traphagen Investment Advisors LLC now owns 2,225 shares of the aerospace company's stock valued at $1,030,000 after acquiring an additional 100 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Susquehanna lifted their price objective on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a "positive" rating in a research report on Thursday. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a research report on Monday. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Finally, TD Cowen reissued a "hold" rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $503.13.

Lockheed Martin Stock Down 1.3%

Shares of LMT opened at $507.51 on Friday. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The firm has a market cap of $118.49 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.28. The firm's 50-day simple moving average is $463.21 and its 200 day simple moving average is $462.39. 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 results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the business earned $7.11 EPS. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current 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 given a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.