Gabelli Funds LLC Acquires 2,100 Shares of Lockheed Martin Corporation $LMT

Key Points

• Gabelli Funds LLC increased its holdings in Lockheed Martin by 18.5%, owning 13,478 shares valued at approximately $6.02 million as of the latest SEC filing.
• Lockheed Martin's stock has seen price target adjustments from various analysts, with the new average target set at $506.35 and a current stock price around $456.28.
• The company recently announced a quarterly dividend of $3.30 per share, indicating a 2.9% dividend yield for shareholders of record.

Gabelli Funds LLC boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 18.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,478 shares of the aerospace company's stock after purchasing an additional 2,100 shares during the period. Gabelli Funds LLC's holdings in Lockheed Martin were worth $6,021,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in Lockheed Martin in the 1st quarter worth about $31,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter worth about $35,000. Banque Transatlantique SA bought a new stake in Lockheed Martin in the 4th quarter worth about $43,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin in the 1st quarter worth about $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in Lockheed Martin in the 1st quarter worth about $45,000. 74.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LMT shares. Royal Bank Of Canada reduced their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Vertical Research reissued a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Price Performance

NYSE LMT traded down $4.13 on Wednesday, hitting $448.37. The stock had a trading volume of 390,674 shares, compared to its average volume of 1,655,490. The firm has a 50-day moving average of $446.49 and a 200-day moving average of $456.95. The company has a market capitalization of $104.68 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.26. 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 issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.9%. Lockheed Martin's dividend payout ratio is presently 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.