Welch Group LLC Purchases 2,709 Shares of Lockheed Martin Corporation $LMT

Key Points

• Welch Group LLC has increased its stake in Lockheed Martin by 2.2%, now owning 126,912 shares valued at approximately $58.8 million, making it the 19th largest holding in its portfolio.
• Lockheed Martin reported a quarterly EPS of $7.29, surpassing analyst expectations, and is forecasting 27.15 EPS for the current fiscal year.
• The company announced a quarterly dividend increase to $3.45 per share, representing a yield of 2.7%, with the payout scheduled for December 30th.

Welch Group LLC raised its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,912 shares of the aerospace company's stock after acquiring an additional 2,709 shares during the period. Lockheed Martin makes up 2.5% of Welch Group LLC's portfolio, making the stock its 19th biggest holding. Welch Group LLC owned approximately 0.05% of Lockheed Martin worth $58,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LMT. TruNorth Capital Management LLC bought a new stake in Lockheed Martin during the first quarter valued at about $31,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin during the first quarter valued at about $43,000. GFG Capital LLC bought a new stake in Lockheed Martin during the second quarter valued at about $43,000. Bernard Wealth Management Corp. boosted its holdings in Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 68 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in Lockheed Martin during the first quarter valued at about $45,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT opened at $505.11 on Monday. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market capitalization of $117.93 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.77 and a beta of 0.28. The firm has a 50-day moving average price of $464.89 and a 200 day moving average price of $463.09.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (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 firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the business posted $7.11 earnings per share. The company'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. Research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.7%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's dividend payout ratio (DPR) is currently 77.70%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. UBS Group cut their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a "sell" rating in a research report on Friday. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.

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