Goelzer Investment Management Inc. Cuts Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• Goelzer Investment Management Inc. has reduced its stake in Lockheed Martin Corporation by 5.1%, holding 27,491 shares valued at approximately $12.7 million, making it the fund's 20th largest investment.
• Recent analyst ratings for Lockheed Martin show a consensus target price drop, with Robert W. Baird lowering its target from $540 to $500, while Bank of America set a new target of $480.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, resulting in an annual yield of 2.8%, with a dividend payout ratio of 74.32%.

Goelzer Investment Management Inc. lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,491 shares of the aerospace company's stock after selling 1,487 shares during the period. Lockheed Martin accounts for about 0.7% of Goelzer Investment Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Goelzer Investment Management Inc.'s holdings in Lockheed Martin were worth $12,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new stake in Lockheed Martin during the first quarter worth $31,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter worth $35,000. EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin during the first quarter worth $43,000. Ritter Daniher Financial Advisory LLC DE purchased a new stake in Lockheed Martin during the first quarter worth $45,000. Finally, McIlrath & Eck LLC lifted its holdings in Lockheed Martin by 161.0% during the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock worth $48,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

LMT stock traded down $0.70 during midday trading on Friday, reaching $472.92. The stock had a trading volume of 2,839,060 shares, compared to its average volume of 1,287,031. The stock has a market cap of $110.41 billion, a PE ratio of 26.63, a P/E/G ratio of 1.67 and a beta of 0.26. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The firm has a fifty day simple moving average of $447.18 and a two-hundred day simple moving average of $459.10. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly 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. The company had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LMT shares. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price objective for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Bank of America decreased their price objective on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. Robert W. Baird decreased their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Susquehanna decreased their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and an average target price of $494.00.

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.