Altus Wealth Group LLC Boosts Holdings in Lockheed Martin Corporation $LMT

Altus Wealth Group LLC grew its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 1.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,814 shares of the aerospace company’s stock after purchasing an additional 25 shares during the period. Altus Wealth Group LLC’s holdings in Lockheed Martin were worth $840,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Lockheed Martin by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock worth $3,587,444,000 after buying an additional 560,457 shares during the last quarter. Nuveen LLC bought a new stake in shares of Lockheed Martin in the first quarter worth $221,790,000. AQR Capital Management LLC increased its stake in shares of Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock worth $361,045,000 after buying an additional 350,796 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Lockheed Martin by 17,506.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after buying an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Lockheed Martin by 59.3% in the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock worth $333,859,000 after buying an additional 278,121 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $519.00 price target on shares of Lockheed Martin and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Vertical Research reiterated a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Finally, Bank of America lowered their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus price target of $510.29.

Lockheed Martin Stock Up 0.4%

LMT stock opened at $495.24 on Monday. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The firm has a market cap of $115.62 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.74 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The firm has a fifty day moving average price of $471.93 and a two-hundred day moving average price of $464.85.

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, 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 company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the previous year, the company posted $7.11 earnings per share. The company’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. Research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. This is a positive change 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 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.