Lockheed Martin Corporation $LMT Position Lessened by Oak Harvest Investment Services

Key Points

• Oak Harvest Investment Services has reduced its stake in Lockheed Martin Corporation by 12.3%, now owning 14,300 shares worth approximately $6.39 million.
• Lockheed Martin reported earnings of $7.29 per share for Q2, surpassing estimates, but its revenue of $18.16 billion fell short of expectations.
• The company will pay a quarterly dividend of $3.30 on September 26th, reflecting an annualized dividend yield of 3.0%.

Oak Harvest Investment Services decreased its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,300 shares of the aerospace company's stock after selling 1,997 shares during the period. Oak Harvest Investment Services' holdings in Lockheed Martin were worth $6,388,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Entropy Technologies LP lifted its holdings in shares of Lockheed Martin by 410.2% in the 1st quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock worth $7,874,000 after purchasing an additional 14,171 shares during the last quarter. PTM Wealth Management LLC bought a new stake in Lockheed Martin during the 1st quarter valued at $377,000. First American Bank raised its stake in Lockheed Martin by 18.8% during the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after acquiring an additional 1,327 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $33,294,000. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its stake in Lockheed Martin by 18.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after acquiring an additional 2,686 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $445.7320 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The stock has a market capitalization of $104.06 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.57 and a beta of 0.27. The stock's fifty day simple moving average is $448.65 and its 200 day simple moving average is $456.34. 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 issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The business had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is presently 74.32%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. UBS Group cut their target price on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Robert W. Baird lowered their price target 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. Finally, Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.

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