Lockheed Martin Corporation $LMT Shares Bought by Pacific Heights Asset Management LLC

Key Points

• Pacific Heights Asset Management LLC increased its stake in Lockheed Martin by 3.7%, owning 56,000 shares valued at approximately $25.9 million, now making it the 12th largest holding in their portfolio.
• Lockheed Martin's latest quarterly earnings report showed earnings per share of $6.95, surpassing analyst estimates, and revenue of $18.61 billion, which was above the expected $18.45 billion.
• The company recently declared a quarterly dividend increase to $3.45 per share, with the upcoming payment date set for December 30th, marking an annualized yield of 2.8%.

Pacific Heights Asset Management LLC grew its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,000 shares of the aerospace company's stock after acquiring an additional 2,000 shares during the period. Lockheed Martin comprises about 1.4% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 12th biggest holding. Pacific Heights Asset Management LLC's holdings in Lockheed Martin were worth $25,936,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LMT. Entropy Technologies LP grew its stake in Lockheed Martin by 410.2% in the first 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 in the last quarter. PTM Wealth Management LLC acquired a new position in Lockheed Martin in the first quarter worth about $377,000. Empowered Funds LLC grew its stake in Lockheed Martin by 21.2% in the first quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company's stock worth $18,038,000 after purchasing an additional 7,052 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Lockheed Martin in the first quarter worth about $413,000. Finally, Founders Capital Management grew its stake in Lockheed Martin by 46.9% in the second quarter. Founders Capital Management now owns 14,568 shares of the aerospace company's stock worth $6,747,000 after purchasing an additional 4,648 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $519.00 price target on Lockheed Martin and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on Lockheed Martin from $530.00 to $630.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Vertical Research restated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Bank of America decreased their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research note on Thursday, August 21st. Finally, Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lockheed Martin presently has an average rating of "Hold" and a consensus target price of $515.35.

Lockheed Martin Stock Performance

LMT opened at $489.09 on Wednesday. The business's 50 day moving average is $474.67 and its 200-day moving average is $465.52. The stock has a market cap of $114.19 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.78 and a beta of 0.28. 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 twelve month low of $410.11 and a twelve month high of $608.34.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating analysts' consensus estimates of $6.33 by $0.62. The company had revenue of $18.61 billion for the quarter, compared to analysts' expectations of $18.45 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's dividend payout ratio is presently 77.70%.

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.

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