Ritholtz Wealth Management Purchases 1,444 Shares of Lockheed Martin Corporation $LMT

Key Points

• Ritholtz Wealth Management increased its stake in Lockheed Martin by 19.5% during Q2, owning 8,833 shares worth approximately $4.09 million after acquiring an additional 1,444 shares.
• Lockheed Martin reported $7.29 EPS for the recent quarter, surpassing analysts' expectations of $6.57, while setting a FY 2025 EPS guidance of 21.700-22.000.
• The company announced a quarterly dividend increase from $3.30 to $3.45 per share, representing a 2.8% annual yield and a payout ratio of 77.70%.

Ritholtz Wealth Management grew its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 19.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,833 shares of the aerospace company's stock after buying an additional 1,444 shares during the period. Ritholtz Wealth Management's holdings in Lockheed Martin were worth $4,091,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in Lockheed Martin in the first quarter valued at approximately $31,000. Frazier Financial Advisors LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth $34,000. EQ Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $43,000. GFG Capital LLC acquired a new stake in Lockheed Martin in the second quarter worth about $43,000. Finally, Bernard Wealth Management Corp. grew its stake in shares of Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock worth $44,000 after acquiring an additional 68 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $499.17 on Thursday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The stock has a market cap of $116.54 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.28. The business has a 50-day simple moving average of $469.31 and a 200-day simple moving average of $464.06. 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 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. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the company posted $7.11 earnings per share. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on LMT. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. UBS Group lowered their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. TD Cowen reissued a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Robert W. Baird boosted their price objective on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft set a $519.00 price objective on shares of Lockheed Martin and gave the company a "hold" rating in a report on Wednesday, October 8th. One research 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $510.29.

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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