Glenview Trust Co Makes New Investment in Lockheed Martin Corporation $LMT

Key Points

• Glenview Trust Co. acquired 58,931 Lockheed Martin shares in the second quarter, valued at approximately $35.6 million. Institutional investors collectively own 74.19% of the company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $632.39; recent targets range from $560 to $700.
• Lockheed Martin exceeded quarterly earnings and revenue expectations, reporting $7.94 in EPS and $20.06 billion in revenue, while declaring a quarterly dividend of $3.45 per share, equivalent to a 2.4% annualized yield.

Glenview Trust Co acquired a new stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 58,931 shares of the aerospace company's stock, valued at approximately $35,617,000.

A number of other hedge funds also recently added to or reduced their stakes in LMT. IAG Wealth Partners LLC lifted its position in shares of Lockheed Martin by 4,800.0% in the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company's stock worth $30,000 after purchasing an additional 48 shares during the period. Burnham & Co LLC bought a new position in Lockheed Martin in the second quarter worth approximately $25,000. United Financial Planning Group LLC purchased a new stake in Lockheed Martin during the third quarter worth $25,000. Basso Capital Management L.P. bought a new stake in Lockheed Martin during the 4th quarter valued at $25,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of Lockheed Martin in the 4th quarter valued at $26,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group reissued a "neutral" rating and set a $581.00 price target on shares of Lockheed Martin in a research report on Friday, July 24th. TD Cowen reduced their price target on Lockheed Martin from $600.00 to $560.00 and set a "hold" rating on the stock in a research report on Monday, July 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Lockheed Martin in a research note on Friday, May 29th. Robert W. Baird set a $700.00 price target on Lockheed Martin in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $680.00 to $605.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of "Hold" and a consensus target price of $632.39.

Lockheed Martin Stock Performance

LMT opened at $565.81 on Friday. The stock has a market cap of $130.58 billion, a P/E ratio of 20.86, a P/E/G ratio of 0.97 and a beta of 0.10. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. The firm has a fifty day moving average price of $550.67 and a 200 day moving average price of $573.82. Lockheed Martin Corporation has a 1 year low of $437.25 and a 1 year high of $692.00.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, beating the consensus estimate of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The company had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same period last year, the company earned $1.46 earnings per share. Lockheed Martin's quarterly revenue was up 10.5% compared to the same quarter last year. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. Equities research analysts anticipate that Lockheed Martin Corporation will post 30.39 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a dividend of $3.45 per share. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.4%. Lockheed Martin's payout ratio is presently 50.87%.

About Lockheed Martin

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

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