Lockheed Martin Corporation $LMT Shares Purchased by Jacobi Capital Management LLC

Key Points

• Jacobi Capital Management LLC increased its stake in Lockheed Martin shares by 9.9%, acquiring 716 additional shares, bringing its total holdings to 7,949 shares valued at approximately $3.55 million.
• Lockheed Martin recently reported $7.29 earnings per share (EPS) for the quarter, exceeding expectations, though it fell short on revenue with $18.16 billion compared to forecasts of $18.59 billion.
• The company announced a quarterly dividend of $3.30 per share, with a payment date set for September 26th, reflecting a healthy annualized dividend yield of 2.8%.

Jacobi Capital Management LLC increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,949 shares of the aerospace company's stock after purchasing an additional 716 shares during the period. Jacobi Capital Management LLC's holdings in Lockheed Martin were worth $3,551,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LMT. Brighton Jones LLC raised its position in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $2,655,000. Janus Henderson Group PLC raised its position in shares of Lockheed Martin by 82.3% during the 4th quarter. Janus Henderson Group PLC now owns 28,621 shares of the aerospace company's stock worth $13,908,000 after purchasing an additional 12,924 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Lockheed Martin by 1.9% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 7,994 shares of the aerospace company's stock worth $3,885,000 after purchasing an additional 152 shares during the last quarter. Finally, NorthRock Partners LLC raised its position in shares of Lockheed Martin by 104.8% during the 4th quarter. NorthRock Partners LLC now owns 3,268 shares of the aerospace company's stock worth $1,588,000 after purchasing an additional 1,672 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. TD Cowen reiterated a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Susquehanna cut their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Finally, Bank of America cut their price target on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. 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 stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of "Hold" and an average price target of $494.00.

Lockheed Martin Stock Up 1.4%

Shares of NYSE LMT opened at $463.51 on Thursday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The firm has a fifty day moving average of $446.09 and a 200-day moving average of $457.84. The stock has a market capitalization of $108.21 billion, a PE ratio of 26.10, a P/E/G ratio of 1.61 and a beta of 0.26. 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 (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the previous year, the company earned $7.11 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.8%. Lockheed Martin's payout ratio is currently 74.32%.

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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