City State Bank Acquires 290 Shares of Lockheed Martin Corporation $LMT

City State Bank boosted its holdings in Lockheed Martin Corporation (NYSE:LMT) by 13.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,417 shares of the aerospace company’s stock after purchasing an additional 290 shares during the quarter. City State Bank’s holdings in Lockheed Martin were worth $1,119,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LMT. Charles Schwab Investment Management Inc. lifted its position in Lockheed Martin by 7.5% in 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 in the last quarter. Nuveen LLC purchased a new stake in Lockheed Martin in the 1st quarter valued at about $221,790,000. AQR Capital Management LLC increased its stake in Lockheed Martin by 76.7% in the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock valued at $361,045,000 after buying an additional 350,796 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Lockheed Martin by 17,506.3% in 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 buying an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Lockheed Martin by 59.3% in 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 buying an additional 278,121 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Bank of America decreased their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. Sanford C. Bernstein increased their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research note on Monday. Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Finally, Truist Financial increased their price objective on shares of Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $513.47.

Lockheed Martin Trading Down 0.5%

NYSE:LMT opened at $485.59 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $112.37 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.61 and a beta of 0.28. The firm’s 50 day moving average is $477.51 and its 200 day moving average is $466.37. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $576.43.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping 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 company had revenue of $18.61 billion for the quarter, compared to analysts’ expectations of $18.45 billion. During the same quarter in the previous year, the firm posted $6.84 EPS. Lockheed Martin’s 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. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a $3.45 dividend. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.