Jamison Private Wealth Management Inc. Has $10.16 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

16 Oct 2024, 16:00 by Sarita Garza · The Markets Daily

Jamison Private Wealth Management Inc. boosted its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,378 shares of the aerospace company’s stock after purchasing an additional 441 shares during the period. Lockheed Martin comprises 1.5% of Jamison Private Wealth Management Inc.’s holdings, making the stock its 19th largest position. Jamison Private Wealth Management Inc.’s holdings in Lockheed Martin were worth $10,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wulff Hansen & CO. grew its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Capital Research Global Investors grew its position in shares of Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $605.00 on Wednesday. The business’s 50-day moving average price is $574.64 and its 200-day moving average price is $507.73. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $614.62. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $145.16 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $6.73 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.18%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LMT. Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Susquehanna increased their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, TD Cowen raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $587.15.

Read Our Latest Stock Analysis on LMT

Lockheed Martin Profile

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