Evermay Wealth Management LLC Cuts Stock Position in Lockheed Martin Corporation $LMT

Evermay Wealth Management LLC reduced its position in Lockheed Martin Corporation (NYSE:LMT) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,060 shares of the aerospace company’s stock after selling 50 shares during the quarter. Evermay Wealth Management LLC’s holdings in Lockheed Martin were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in 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 acquiring an additional 560,457 shares during the period. Nuveen LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at about $221,790,000. AQR Capital Management LLC boosted its holdings in Lockheed Martin by 76.7% during the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock valued at $361,045,000 after acquiring an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Lockheed Martin by 17,506.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock valued at $135,985,000 after acquiring an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Lockheed Martin by 59.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock valued at $333,859,000 after acquiring an additional 278,121 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LMT. Royal Bank Of Canada increased their target price on Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Robert W. Baird upped their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Susquehanna upped their price target on Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a research report on Thursday, October 9th. Finally, UBS Group lowered their price target on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $510.29.

Lockheed Martin Trading Up 0.4%

LMT opened at $495.24 on Monday. The business has a 50 day simple moving average of $471.93 and a two-hundred day simple moving average of $464.85. The firm has a market capitalization 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. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results 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. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the company earned $7.11 EPS. The business’s revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company 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 $3.45 dividend. 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 currently 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.