Perpetual Ltd Grows Holdings in Lockheed Martin Corporation $LMT

Key Points

• Perpetual Ltd increased its stake in Lockheed Martin by 141.5% during Q2, acquiring an additional 1,592 shares for a total of 2,717 shares valued at approximately $1.26 million.
• Lockheed Martin's latest earnings report showed $7.29 EPS, exceeding the consensus estimate of $6.57, with a revenue of $18.16 billion, slightly below expectations.
• The company announced a quarterly dividend of $3.30 per share, representing an annual yield of 2.8%, with a current payout ratio of 74.32%.

Perpetual Ltd lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 141.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,717 shares of the aerospace company's stock after buying an additional 1,592 shares during the period. Perpetual Ltd's holdings in Lockheed Martin were worth $1,258,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new stake in Lockheed Martin during the first quarter valued at approximately $31,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $35,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin in 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 worth about $45,000. Finally, McIlrath & Eck LLC lifted its holdings in 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 purchasing an additional 66 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group lowered their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Robert W. Baird cut their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Vertical Research reissued a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Stock Down 0.1%

NYSE:LMT traded down $0.70 during midday trading on Friday, reaching $472.92. The company had a trading volume of 2,839,060 shares, compared to its average volume of 1,334,475. The firm has a market capitalization of $110.41 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.66 and a beta of 0.26. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock's fifty day simple moving average is $447.18 and its 200-day simple moving average is $459.07. 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 (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.Lockheed Martin's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 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.