Axxcess Wealth Management LLC Boosts Stock Position in Lockheed Martin Corporation $LMT

Axxcess Wealth Management LLC grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,902 shares of the aerospace company’s stock after buying an additional 469 shares during the period. Axxcess Wealth Management LLC’s holdings in Lockheed Martin were worth $2,270,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position 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 valued at $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Lockheed Martin by 1.4% during the 1st quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock valued at $1,021,846,000 after buying an additional 31,443 shares in the last quarter. Invesco Ltd. lifted its position in shares of Lockheed Martin by 0.6% during the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock valued at $958,116,000 after buying an additional 12,899 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lockheed Martin by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company’s stock valued at $580,317,000 after purchasing an additional 24,512 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Lockheed Martin by 4.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company’s stock valued at $518,937,000 after purchasing an additional 51,522 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Wall Street Zen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Bank of America decreased their target price 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. Robert W. Baird lifted their target price on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Royal Bank Of Canada lifted their target price on Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Finally, Morgan Stanley lifted their target price on Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average target price of $510.29.

Lockheed Martin Stock Down 1.2%

Shares of LMT opened at $499.17 on Thursday. The stock has a market capitalization of $116.54 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.28. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The business’s 50 day simple moving average is $469.31 and its 200-day simple moving average is $464.06. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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. The business had revenue of $18.16 billion for the quarter, compared to analysts’ expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities analysts expect 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. Stockholders of record on Monday, December 1st will be given a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio is presently 77.70%.

Lockheed Martin Company 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.