Sax Wealth Advisors LLC Purchases New Position in Lockheed Martin Corporation $LMT

Key Points

• Sax Wealth Advisors LLC acquired a new position in Lockheed Martin Corporation, purchasing 657 shares valued at approximately $304,000 during the second quarter.
• Lockheed Martin recently reported $7.29 EPS for the last quarter, exceeding analysts' expectations and announced an increase in its quarterly dividend to $3.45 per share.
• As of the latest updates, approximately 74.19% of Lockheed Martin's stock is owned by hedge funds and institutional investors, indicating strong institutional confidence in the company.

Sax Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 657 shares of the aerospace company's stock, valued at approximately $304,000.

A number of other institutional investors also recently modified their holdings of LMT. Brighton Jones LLC lifted its stake 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 valued at $1,941,000 after buying an additional 191 shares in the last quarter. Zhang Financial LLC lifted its stake in shares of Lockheed Martin by 46.6% during the 1st quarter. Zhang Financial LLC now owns 3,019 shares of the aerospace company's stock valued at $1,349,000 after buying an additional 960 shares in the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Lockheed Martin by 15.6% during the 1st quarter. Simon Quick Advisors LLC now owns 1,247 shares of the aerospace company's stock valued at $557,000 after buying an additional 168 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in Lockheed Martin by 6.9% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 7,043 shares of the aerospace company's stock worth $3,146,000 after acquiring an additional 454 shares during the period. Finally, Greenwood Capital Associates LLC lifted its stake in Lockheed Martin by 13.8% in the 1st quarter. Greenwood Capital Associates LLC now owns 2,749 shares of the aerospace company's stock worth $1,228,000 after purchasing an additional 333 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $507.51 on Friday. The company's fifty day moving average price is $463.21 and its 200-day moving average price is $462.39. The firm has a market capitalization of $118.49 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.81 and a beta of 0.28. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

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 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 net margin of 5.85% and a return on equity of 107.60%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Alembic Global Advisors upgraded shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research report on Thursday, August 28th. Bank of America reduced their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Lockheed Martin in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $503.13.

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.

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