Harvest Portfolios Group Inc. Purchases 584 Shares of Lockheed Martin Corporation $LMT

Key Points

• Harvest Portfolios Group Inc. increased its holdings in Lockheed Martin by 17.4%, acquiring 584 additional shares to bring its total to 3,935 shares valued at approximately $1.76 million.
• Lockheed Martin recently announced a quarterly dividend of $3.30 per share, with the ex-dividend date set for September 2nd, representing an annualized yield of 2.9%.
• Analysts have varied target price revisions for Lockheed Martin, with Susquehanna lowering its target from $550 to $490, while maintaining a "positive" rating.

Harvest Portfolios Group Inc. grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 17.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,935 shares of the aerospace company's stock after buying an additional 584 shares during the period. Harvest Portfolios Group Inc.'s holdings in Lockheed Martin were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth about $31,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $35,000. Banque Transatlantique SA acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $43,000. EQ Wealth Advisors LLC acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $43,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $0.60 during midday trading on Friday, hitting $455.58. 1,371,987 shares of the company's stock were exchanged, compared to its average volume of 1,529,966. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company's 50 day moving average price is $446.99 and its 200 day moving average price is $456.50. The firm has a market capitalization of $106.36 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.61 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS 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 company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the company posted $7.11 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal 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 paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LMT shares. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Vertical Research reissued a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Alembic Global Advisors raised Lockheed Martin from a "neutral" rating to an "overweight" rating in a research report on Thursday. 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. Finally, Robert W. Baird dropped their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and an average target price of $506.35.

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.