Wesbanco Bank Inc. Grows Stake in Lockheed Martin Corporation $LMT

Key Points

• Wesbanco Bank Inc. increased its stake in Lockheed Martin by 6.6%, now holding 25,696 shares valued at approximately $11.9 million.
• Lockheed Martin recently announced a quarterly dividend of $3.30 per share, with an annualized yield of 2.8%.
• Analysts have revised Lockheed Martin's target price downward, with several institutions now rating it as a "hold", reflecting a consensus estimate of around $494.00.

Wesbanco Bank Inc. lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,696 shares of the aerospace company's stock after purchasing an additional 1,601 shares during the quarter. Wesbanco Bank Inc.'s holdings in Lockheed Martin were worth $11,901,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Entropy Technologies LP lifted its position in Lockheed Martin by 410.2% in the 1st quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock worth $7,874,000 after buying an additional 14,171 shares during the last quarter. PTM Wealth Management LLC purchased a new position in shares of Lockheed Martin during the first quarter valued at approximately $377,000. First American Bank increased its stake in shares of Lockheed Martin by 18.8% during the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after buying an additional 1,327 shares during the period. Empowered Funds LLC grew its stake in Lockheed Martin by 21.2% in the first quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company's stock worth $18,038,000 after purchasing an additional 7,052 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its stake in Lockheed Martin by 18.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after purchasing an additional 2,686 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $0.30 during trading on Friday, hitting $473.92. The company had a trading volume of 579,417 shares, compared to its average volume of 1,629,934. The stock has a 50 day simple moving average of $447.07 and a 200 day simple moving average of $458.94. 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 Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The firm has a market capitalization of $110.64 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.26.

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 return on equity of 107.60% and a net margin of 5.85%.The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the company earned $7.11 earnings per share. The business's revenue for the quarter 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, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LMT. Vertical Research reaffirmed a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Robert W. Baird reduced their price target on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Bank of America reduced their price target on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $494.00.

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.