Grant Private Wealth Management Inc Raises Position in Lockheed Martin Corporation $LMT

Key Points

• Grant Private Wealth Management Inc significantly increased its stake in Lockheed Martin by 662.9% during the 2nd quarter, now holding 4,997 shares valued at approximately $2.31 million.
• Lockheed Martin recently announced a quarterly dividend of $3.30 per share, representing an annualized yield of 2.8%, with the payment date set for September 26th.
• The company's stock has a market cap of $110.41 billion and reported $7.29 earnings per share for the latest quarter, exceeding analysts' expectations of $6.57.

Grant Private Wealth Management Inc boosted its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 662.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,997 shares of the aerospace company's stock after purchasing an additional 4,342 shares during the quarter. Lockheed Martin comprises 1.3% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 26th biggest position. Grant Private Wealth Management Inc's holdings in Lockheed Martin were worth $2,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at $31,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at $35,000. EQ Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at $43,000. Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Lockheed Martin during the 1st quarter valued at about $45,000. Finally, McIlrath & Eck LLC raised its holdings in shares of Lockheed Martin by 161.0% during the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock valued at $48,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 1.6%

Lockheed Martin stock traded up $7.56 during trading hours on Monday, reaching $480.50. The stock had a trading volume of 1,409,721 shares, compared to its average volume of 1,641,531. The stock has a market cap of $112.18 billion, a PE ratio of 27.05, a PEG ratio of 1.66 and a beta of 0.26. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The company has a fifty day simple moving average of $447.18 and a 200-day simple moving average of $459.07.

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 (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 analyst estimates of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company's revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.7%. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent research reports. Bank of America dropped their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Vertical Research reiterated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Robert W. Baird decreased their target price on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna decreased their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Finally, Alembic Global Advisors upgraded shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $494.00.

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.