Royal Bank of Canada Acquires 31,443 Shares of Lockheed Martin Corporation $LMT

Key Points

• Royal Bank of Canada increased its holdings in Lockheed Martin Corporation by 1.4%, now owning approximately 0.98% of the company, which is valued at over $1 billion.
• Lockheed Martin reported a quarterly earnings per share (EPS) of $7.29, surpassing estimates, but revenue of $18.16 billion was slightly below analysts' expectations.
• The company announced a quarterly dividend of $3.30 per share, with an ex-dividend date of September 2, representing an annualized yield of 2.9%.

Royal Bank of Canada lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,287,495 shares of the aerospace company's stock after acquiring an additional 31,443 shares during the quarter. Royal Bank of Canada owned 0.98% of Lockheed Martin worth $1,021,846,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Entropy Technologies LP lifted its position in Lockheed Martin by 410.2% during the first quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock worth $7,874,000 after buying an additional 14,171 shares in the last quarter. PTM Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the first quarter valued at about $377,000. First American Bank lifted its holdings in shares of Lockheed Martin by 18.8% in the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after acquiring an additional 1,327 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of Lockheed Martin by 18.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after purchasing an additional 2,686 shares during the period. Finally, State of Wyoming increased its stake in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LMT. Bank of America reduced their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. Susquehanna cut their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $494.00.

Lockheed Martin Trading Down 0.8%

Shares of LMT stock traded down $3.74 on Wednesday, reaching $448.76. 1,535,279 shares of the stock were exchanged, compared to its average volume of 1,420,901. The stock has a market cap of $104.77 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.60 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. The firm has a 50 day moving average of $446.49 and a two-hundred day moving average of $456.95. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping 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 business had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. The company'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, research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.9%. Lockheed Martin's payout ratio is currently 74.32%.

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.