Virtus Investment Advisers LLC Acquires Shares of 2,899 Lockheed Martin Corporation $LMT

Virtus Investment Advisers LLC bought a new position in shares of Lockheed Martin Corporation (NYSE:LMT) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,899 shares of the aerospace company’s stock, valued at approximately $1,343,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. purchased a new stake in Lockheed Martin in the 2nd quarter worth $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $34,000. MTM Investment Management LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $36,000. GFG Capital LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $43,000. Finally, Bernard Wealth Management Corp. raised its position in shares of Lockheed Martin by 251.9% during 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 during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.7%

Shares of LMT opened at $457.44 on Friday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $529.48. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The stock has a fifty day simple moving average of $482.77 and a two-hundred day simple moving average of $466.27. The company has a market capitalization of $105.85 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm had revenue of $18.61 billion during the quarter, compared to analyst estimates of $18.45 billion. During the same quarter in the prior year, the firm posted $6.84 earnings per share. Lockheed Martin’s quarterly revenue was up 8.8% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, equities analysts forecast 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. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s payout ratio is 77.05%.

Analysts Set New Price Targets

Several research firms recently issued reports on LMT. Royal Bank Of Canada lifted their price objective on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. 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 report on Thursday, August 21st. Sanford C. Bernstein boosted their price target on Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. BNP Paribas upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $515.50.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the transaction, the chief operating officer directly owned 1 shares in the company, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

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.