Warren Street Wealth Advisors LLC Takes $215,000 Position in Lockheed Martin Co. (NYSE:LMT)

20 Oct 2024, 22:42 by Mitch Edgeman · The Markets Daily

Warren Street Wealth Advisors LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 368 shares of the aerospace company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. CVA Family Office LLC boosted its position in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the last quarter. Quad Cities Investment Group LLC boosted its holdings in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the last quarter. HTLF Bank grew its position in Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC increased its stake in Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after buying an additional 20 shares during the last quarter. Finally, Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $597.92.

Check Out Our Latest Analysis on LMT

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $611.81 on Friday. The firm has a market cap of $146.80 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The business’s 50 day moving average is $578.29 and its 200-day moving average is $510.67. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $614.62.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Company Profile

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