Veracity Capital LLC Grows Position in Lockheed Martin Co. (NYSE:LMT)

20 Oct 2024, 23:53 by Tristan Rich · The Markets Daily

Veracity Capital LLC lifted its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 24.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,274 shares of the aerospace company’s stock after acquiring an additional 647 shares during the quarter. Lockheed Martin makes up approximately 0.7% of Veracity Capital LLC’s portfolio, making the stock its 22nd largest position. Veracity Capital LLC’s holdings in Lockheed Martin were worth $1,914,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LMT. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin in the second quarter valued at approximately $6,611,000. Verity & Verity LLC grew its holdings in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares during the period. Watts Gwilliam & Co. LLC purchased a new stake in Lockheed Martin in the third quarter worth $1,096,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of Lockheed Martin by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after buying an additional 2,400 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

NYSE LMT opened at $611.81 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company has a market capitalization of $146.80 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a fifty day moving average of $578.29 and a 200-day moving average of $510.67. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $614.62.

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

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. 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 payout ratio is presently 48.30%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LMT shares. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Susquehanna increased their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a report on Thursday. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $597.92.

Read Our Latest Stock Analysis on LMT

Lockheed Martin Profile

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