Lockheed Martin Corporation $LMT Position Trimmed by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,052 shares of the aerospace company’s stock after selling 173 shares during the period. Lockheed Martin comprises approximately 2.4% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 20th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in Lockheed Martin were worth $12,066,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. TruNorth Capital Management LLC acquired a new position in Lockheed Martin in the 1st quarter worth approximately $31,000. EQ Wealth Advisors LLC acquired a new position in Lockheed Martin in the 1st quarter worth approximately $43,000. GFG Capital LLC acquired a new position in Lockheed Martin in the 2nd quarter worth approximately $43,000. Ritter Daniher Financial Advisory LLC DE acquired a new position in Lockheed Martin in the 1st quarter worth approximately $45,000. Finally, McIlrath & Eck LLC boosted its stake in Lockheed Martin by 161.0% in the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 66 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Cowen reaffirmed a “hold” rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Robert W. Baird raised their price objective on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank Of Canada decreased their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 23rd. Bank of America cut 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 report on Thursday, August 21st. Finally, Susquehanna increased their target price on shares of Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $503.13.

Lockheed Martin Stock Down 0.5%

LMT stock opened at $505.11 on Friday. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The company has a market cap of $117.92 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.79 and a beta of 0.28. The company has a 50 day moving average of $464.89 and a two-hundred day moving average of $462.82.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating analysts’ consensus estimates of $6.57 by $0.72. The business had revenue of $18.16 billion for the quarter, compared to the consensus estimate 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 for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm 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 2.7%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s payout ratio is 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.