Spire Wealth Management Sells 6,116 Shares of Lockheed Martin Corporation $LMT

Spire Wealth Management trimmed its stake in Lockheed Martin Corporation (NYSE:LMT) by 53.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,230 shares of the aerospace company’s stock after selling 6,116 shares during the period. Spire Wealth Management’s holdings in Lockheed Martin were worth $2,422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LMT. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $28,000. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin during the first quarter worth approximately $31,000. Frazier Financial Advisors LLC purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $34,000. GFG Capital LLC purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $43,000. Finally, Bernard Wealth Management Corp. raised its stake in shares of Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 68 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 0.9%

Shares of Lockheed Martin stock opened at $489.47 on Friday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $576.43. The stock has a market capitalization of $113.26 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.69 and a beta of 0.28. The company’s 50 day moving average price is $480.97 and its 200-day moving average price is $467.11.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share 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 firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared 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 represents a $13.80 annualized dividend and a yield of 2.8%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is presently 77.05%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction dated 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 directly owned 1 shares in the company, valued at $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LMT shares. UBS Group decreased their price target on shares of Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Bank of America decreased their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. Finally, Vertical Research restated a “hold” rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and an average price target of $513.47.

Lockheed Martin Company 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.