Sequoia Financial Advisors LLC Raises Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• Sequoia Financial Advisors LLC increased its stake in Lockheed Martin Corporation by 21.7% during the second quarter, owning 15,640 shares valued at approximately $7.24 million at the quarter's end.
• Lockheed Martin has declared a quarterly dividend of $3.45, up from the previous $3.30, with an annualized dividend yield of 2.7%.
• The company reported $7.29 EPS for the last quarter, exceeding analysts' expectations, but its revenue of $18.16 billion fell short of consensus estimates of $18.59 billion.

Sequoia Financial Advisors LLC boosted its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,640 shares of the aerospace company's stock after buying an additional 2,790 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Lockheed Martin were worth $7,243,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LMT. Charles Schwab Investment Management Inc. raised its position in Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after buying an additional 560,457 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at about $221,790,000. AQR Capital Management LLC increased its position in shares of Lockheed Martin by 76.7% during the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock valued at $361,045,000 after purchasing an additional 350,796 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Lockheed Martin by 17,506.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock valued at $135,985,000 after purchasing an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Lockheed Martin by 59.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company's stock valued at $333,859,000 after purchasing an additional 278,121 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 0.3%

Shares of NYSE:LMT opened at $503.67 on Tuesday. The stock has a 50 day moving average of $466.48 and a 200 day moving average of $463.53. The company has a market cap of $117.59 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.77 and a beta of 0.28. 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 Corporation has a 12-month low of $410.11 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data 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 EPS. The firm's revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.7%. The ex-dividend date 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 74.32%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. TD Cowen reaffirmed a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Vertical Research reaffirmed a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. 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. Royal Bank Of Canada upped their price target on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group boosted their price objective on Lockheed Martin from $398.00 to $425.00 and gave the company a "sell" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $503.53.

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.

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.