Global Financial Private Client LLC Has $1.01 Million Holdings in Lockheed Martin Corporation $LMT

Key Points

• Global Financial Private Client LLC significantly increased its stake in Lockheed Martin by 172.9% in the second quarter, holding shares worth $1.01 million at quarter-end.
• Lockheed Martin reported Q2 earnings of $7.29 EPS, exceeding analysts' expectations, with revenues of $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, with a dividend yield of 2.8%, to be paid on September 26th.

Global Financial Private Client LLC grew its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 172.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,183 shares of the aerospace company's stock after purchasing an additional 1,383 shares during the period. Global Financial Private Client LLC's holdings in Lockheed Martin were worth $1,011,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. ARS Wealth Advisors Group LLC lifted its holdings in shares of Lockheed Martin by 1.2% in the second quarter. ARS Wealth Advisors Group LLC now owns 15,344 shares of the aerospace company's stock valued at $7,106,000 after purchasing an additional 183 shares in the last quarter. Mogy Joel R Investment Counsel Inc. lifted its holdings in shares of Lockheed Martin by 10.3% in the second quarter. Mogy Joel R Investment Counsel Inc. now owns 1,069 shares of the aerospace company's stock valued at $495,000 after purchasing an additional 100 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Lockheed Martin by 6.5% in the second quarter. Exchange Traded Concepts LLC now owns 46,064 shares of the aerospace company's stock valued at $21,334,000 after purchasing an additional 2,819 shares in the last quarter. Marshall Financial Group LLC raised its holdings in Lockheed Martin by 4.7% during the second quarter. Marshall Financial Group LLC now owns 6,895 shares of the aerospace company's stock worth $3,234,000 after acquiring an additional 309 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new stake in Lockheed Martin during the second quarter worth about $486,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Bank of America decreased their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $494.00.

Lockheed Martin Price Performance

NYSE LMT traded down $0.70 on Friday, hitting $472.92. 2,839,060 shares of the company's stock were exchanged, compared to its average volume of 1,287,031. The stock has a 50-day moving average of $447.18 and a 200-day moving average of $459.10. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The stock has a market cap of $110.41 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.67 and a beta of 0.26.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the prior year, the company earned $7.11 earnings per share. The company'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. Analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share 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 dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.8%. Lockheed Martin's dividend payout ratio is 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.