Horizon Bancorp Inc. IN Takes $208,000 Position in Lockheed Martin Corporation $LMT

Horizon Bancorp Inc. IN acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 450 shares of the aerospace company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Brighton Jones LLC lifted its stake in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Zhang Financial LLC lifted its stake in shares of Lockheed Martin by 46.6% in the 1st quarter. Zhang Financial LLC now owns 3,019 shares of the aerospace company’s stock valued at $1,349,000 after purchasing an additional 960 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Lockheed Martin by 15.6% in the 1st quarter. Simon Quick Advisors LLC now owns 1,247 shares of the aerospace company’s stock valued at $557,000 after purchasing an additional 168 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in shares of Lockheed Martin by 6.9% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 7,043 shares of the aerospace company’s stock valued at $3,146,000 after purchasing an additional 454 shares during the period. Finally, Greenwood Capital Associates LLC raised its stake in Lockheed Martin by 13.8% during the 1st quarter. Greenwood Capital Associates LLC now owns 2,749 shares of the aerospace company’s stock worth $1,228,000 after buying an additional 333 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 23rd. Robert W. Baird upped their price target on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday. Wall Street Zen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft set a $519.00 price target on Lockheed Martin and gave the stock a “hold” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $503.13.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $507.51 on Friday. The company has a market cap of $118.49 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.28. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The business has a 50 day moving average price of $463.21 and a 200-day moving average price of $462.39. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be paid a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is currently 74.32%.

Lockheed Martin 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.