Strait & Sound Wealth Management LLC Decreases Position in Lockheed Martin Corporation $LMT

Key Points

• Strait & Sound Wealth Management LLC reduced its stake in Lockheed Martin by 34.6%, currently holding 1,208 shares valued at $540,000.
• Lockheed Martin reported a quarterly EPS of $7.29, exceeding estimates, and has set a guidance of $21.700-$22.000 EPS for FY 2025.
• The company recently declared a quarterly dividend of $3.30, with a dividend yield of 2.8% and a payout ratio of 74.32%.

Strait & Sound Wealth Management LLC lowered its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 34.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,208 shares of the aerospace company's stock after selling 640 shares during the period. Strait & Sound Wealth Management LLC's holdings in Lockheed Martin were worth $540,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter valued at approximately $31,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $35,000. EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at $43,000. Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Lockheed Martin in the 1st quarter worth $45,000. Finally, Dagco Inc. purchased a new position in shares of Lockheed Martin in the first quarter worth $50,000. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on LMT shares. TD Cowen reiterated a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Vertical Research reaffirmed a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group dropped their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Finally, Bank of America cut their price objective on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Price Performance

LMT stock traded up $6.45 during trading on Wednesday, hitting $463.51. 1,076,230 shares of the company's stock traded hands, compared to its average volume of 1,370,287. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The stock has a market capitalization of $108.21 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.61 and a beta of 0.26. The business has a fifty day simple moving average of $446.08 and a 200 day simple moving average of $457.80. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the firm earned $7.11 earnings per share. Lockheed Martin'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. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.8%. Lockheed Martin's payout ratio is presently 74.32%.

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.