T. Rowe Price Investment Management Inc. Purchases 302,684 Shares of Lockheed Martin Corporation $LMT

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in Lockheed Martin by 17,506.3%, owning 304,413 shares worth approximately $135.99 million at the end of Q1.
• Lockheed Martin reports quarterly earnings of $7.29 EPS, surpassing estimates, with revenue of $18.16 billion, slightly below expectations.
• Recent price target adjustments from analysts indicate a range of $440.00 to $490.00, reflecting a cautious outlook with a consensus rating of "Hold."

T. Rowe Price Investment Management Inc. grew its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 17,506.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 304,413 shares of the aerospace company's stock after buying an additional 302,684 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.13% of Lockheed Martin worth $135,985,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin in the 1st quarter worth $31,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth $35,000. Banque Transatlantique SA bought a new position in shares of Lockheed Martin in the 4th quarter worth $43,000. EQ Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the 1st quarter worth $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Lockheed Martin in the 1st quarter worth $45,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LMT shares. Vertical Research reiterated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price objective for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. TD Cowen restated a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Bank of America dropped their price objective on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $506.35.

Lockheed Martin Stock Down 0.3%

LMT stock traded down $1.4680 during midday trading on Friday, hitting $445.7320. The stock had a trading volume of 1,889,568 shares, compared to its average volume of 1,677,251. The firm has a market cap of $104.06 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.57 and a beta of 0.27. The business has a 50-day moving average of $448.65 and a two-hundred day moving average of $456.34. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week 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 earnings per share for the quarter, topping the consensus estimate 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%.The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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