WealthPLAN Partners LLC Has $2.39 Million Stake in Lockheed Martin Corporation $LMT

Key Points

• WealthPLAN Partners LLC has reduced its stake in Lockheed Martin by 24.7%, now holding shares worth $2.39 million.
• Several institutional investors, including Charles Schwab and T. Rowe Price, have recently increased their holdings in Lockheed Martin, showcasing strong interest in the stock.
• Lockheed Martin announced an increase in its quarterly dividend to $3.45 per share, reflecting a commitment to returning value to shareholders.

WealthPLAN Partners LLC trimmed its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 24.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,158 shares of the aerospace company's stock after selling 1,693 shares during the period. WealthPLAN Partners LLC's holdings in Lockheed Martin were worth $2,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 7.5% during 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 acquiring an additional 560,457 shares during the period. Nuveen LLC bought a new position in shares of Lockheed Martin during the 1st quarter worth about $221,790,000. AQR Capital Management LLC lifted its holdings 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 worth $361,045,000 after acquiring an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings 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 worth $135,985,000 after acquiring an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings 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 worth $333,859,000 after acquiring an additional 278,121 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Robert W. Baird raised their price objective on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. The Goldman Sachs Group raised their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the stock a "sell" rating in a report on Friday, October 10th. Truist Financial raised their price objective on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, TD Cowen reissued a "hold" rating and set a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $510.29.

Lockheed Martin Trading Down 1.2%

Shares of LMT stock opened at $499.17 on Thursday. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a market capitalization of $116.54 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.78 and a beta of 0.28. The firm has a 50-day moving average price of $469.31 and a 200 day moving average price of $464.06. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the firm posted $7.11 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced 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 is a boost from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's payout ratio is presently 77.70%.

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.

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