Eastern Bank Decreases Stock Holdings in Lockheed Martin Corporation $LMT

Eastern Bank trimmed its position in Lockheed Martin Corporation (NYSE:LMT) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,244 shares of the aerospace company’s stock after selling 135 shares during the quarter. Eastern Bank’s holdings in Lockheed Martin were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LMT. Charles Schwab Investment Management Inc. increased its position in 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 valued at $3,587,444,000 after purchasing an additional 560,457 shares during the period. Nuveen LLC purchased a new position in Lockheed Martin during the 1st quarter valued at $221,790,000. AQR Capital Management LLC increased its position in Lockheed Martin by 76.7% during the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock valued at $361,045,000 after purchasing an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. increased its position in 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 valued at $135,985,000 after purchasing an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in 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 valued at $333,859,000 after purchasing an additional 278,121 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LMT shares. JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Truist Financial downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday. Susquehanna boosted their price objective on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a research report on Thursday. Finally, Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a “market perform” rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $503.13.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $505.11 on Friday. The stock has a market cap of $117.92 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.28. The company’s fifty day moving average price is $464.89 and its 200-day moving average price is $462.95. 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.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping 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 net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) 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.