Cornerstone Advisors LLC Raises Stock Holdings in Lockheed Martin Corporation $LMT

Cornerstone Advisors LLC raised its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,600 shares of the aerospace company’s stock after buying an additional 800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Lockheed Martin were worth $5,836,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LMT. Mid American Wealth Advisory Group Inc. purchased a new position in Lockheed Martin during the 2nd quarter valued at about $28,000. Frazier Financial Advisors LLC bought a new position in shares of Lockheed Martin during the second quarter valued at approximately $34,000. GFG Capital LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $43,000. Bernard Wealth Management Corp. boosted its position in shares of Lockheed Martin by 251.9% in the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 68 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $45,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of a number of analyst reports. Vertical Research reaffirmed a “hold” rating and set a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. The Goldman Sachs Group raised their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Finally, Alembic Global Advisors raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. One 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, the company has an average rating of “Hold” and a consensus target price of $513.47.

Insider Buying and Selling

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of Lockheed Martin stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the sale, the chief operating officer owned 1 shares of the company’s stock, valued at approximately $491.04. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT opened at $466.27 on Monday. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $546.00. The stock has a 50-day moving average of $484.22 and a 200 day moving average of $466.97. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The company has a market capitalization of $107.89 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $0.62. The business had revenue of $18.61 billion for the quarter, compared to analysts’ expectations of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a $3.45 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio is 77.05%.

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.