Morningstar Investment Management LLC Purchases New Stake in Lockheed Martin Corporation $LMT

Key Points

• Morningstar Investment Management LLC has acquired a new stake in Lockheed Martin Corporation, purchasing 2,460 shares valued at approximately $1.14 million in the second quarter.
• Lockheed Martin recently increased its quarterly dividend to $3.45 per share, representing an annualized payout of $13.80 and a dividend yield of 2.7%.
• Wall Street analysts have mixed ratings for Lockheed Martin, with price targets ranging from $425 to $590, and an average consensus rating of "Hold."

Morningstar Investment Management LLC purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,460 shares of the aerospace company's stock, valued at approximately $1,139,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. 49 Wealth Management LLC grew its stake in Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after purchasing an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. boosted its stake in Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 22 shares during the period. Tyler Stone Wealth Management raised its holdings in Lockheed Martin by 3.3% in the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock valued at $306,000 after acquiring an additional 22 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its holdings in Lockheed Martin by 4.7% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock valued at $225,000 after acquiring an additional 22 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. raised its holdings in Lockheed Martin by 4.5% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock valued at $237,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Susquehanna increased their target price on Lockheed Martin from $490.00 to $590.00 and gave the stock a "positive" rating in a report on Thursday. The Goldman Sachs Group raised their price target on Lockheed Martin from $398.00 to $425.00 and gave the stock a "sell" rating in a research report on Friday. Vertical Research reiterated a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Finally, Robert W. Baird lifted their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $503.53.

Lockheed Martin Trading Down 0.3%

Lockheed Martin stock opened at $503.67 on Tuesday. 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 quick ratio of 0.83 and a current ratio of 0.98. The stock has a market capitalization of $117.59 billion, a P/E ratio of 28.36, a PEG ratio of 1.77 and a beta of 0.28. The stock has a 50-day simple moving average of $466.48 and a 200 day simple moving average of $463.53.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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 is a boost from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, December 1st. Lockheed Martin's dividend payout ratio is presently 74.32%.

Lockheed Martin 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.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.