Opal Wealth Advisors LLC Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

16 Oct 2024, 17:54 by Mitch Edgeman · The Markets Daily

Opal Wealth Advisors LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT – Free Report) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 469 shares of the aerospace company’s stock after selling 56 shares during the period. Opal Wealth Advisors LLC’s holdings in Lockheed Martin were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LMT. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at approximately $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the first quarter valued at about $30,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna upped their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. 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 report on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $587.15.

Check Out Our Latest Stock Analysis on Lockheed Martin

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $605.00 on Wednesday. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62. The company has a market capitalization of $145.16 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The stock’s fifty day moving average is $574.64 and its two-hundred day moving average is $507.73. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly 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 company 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 quarter last year, the firm posted $6.73 EPS. As a group, analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.18%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Company Profile

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