Synovus Financial Corp Boosts Position in Lockheed Martin Corporation $LMT

Key Points

• Synovus Financial Corp increased its stake in Lockheed Martin by 1.7%, now owning 58,186 shares valued at approximately $25.99 million.
• Recent analyst reports indicate a shift in sentiment, with Truist Financial and Wall Street Zen both downgrading Lockheed Martin's stock rating to "hold" and adjusting price targets significantly lower.
• Lockheed Martin declared a quarterly dividend of $3.30 per share, reflecting an annual yield of 3.0% and a dividend payout ratio of 74.32%.

Synovus Financial Corp grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,186 shares of the aerospace company's stock after buying an additional 962 shares during the period. Synovus Financial Corp's holdings in Lockheed Martin were worth $25,992,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Lockheed Martin in the 1st quarter worth approximately $31,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter valued at $35,000. Banque Transatlantique SA bought a new position in shares of Lockheed Martin in the fourth quarter worth $43,000. EQ Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the first quarter worth $43,000. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new stake in shares of Lockheed Martin in the first quarter worth $45,000. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on LMT shares. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Susquehanna lowered their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $506.35.

Lockheed Martin Price Performance

LMT opened at $445.7320 on Friday. The stock has a 50-day moving average price of $448.65 and a 200-day moving average price of $456.34. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock has a market capitalization of $104.06 billion, a P/E ratio of 25.10, a PEG ratio of 1.57 and a beta of 0.27.

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 for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.Lockheed Martin's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.0%. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

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.

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