Slocum Gordon & Co LLP Boosts Holdings in Lockheed Martin Corporation $LMT

Slocum Gordon & Co LLP grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 2,652.0% in the third quarter, HoldingsChannel reports. The fund owned 3,495 shares of the aerospace company’s stock after buying an additional 3,368 shares during the quarter. Lockheed Martin makes up about 1.4% of Slocum Gordon & Co LLP’s portfolio, making the stock its 23rd largest position. Slocum Gordon & Co LLP’s holdings in Lockheed Martin were worth $1,745,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Lockheed Martin by 1.0% during the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after purchasing an additional 214,565 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after buying an additional 19,459 shares during the period. Royal Bank of Canada increased its holdings in shares of Lockheed Martin by 1.4% during the 1st quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock worth $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Legal & General Group Plc raised its position in shares of Lockheed Martin by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock worth $444,387,000 after buying an additional 6,073 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Lockheed Martin by 6.9% in the second quarter. AQR Capital Management LLC now owns 863,839 shares of the aerospace company’s stock valued at $400,079,000 after acquiring an additional 55,607 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $483.14 on Monday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $516.00. The firm’s 50 day simple moving average is $471.07 and its 200-day simple moving average is $465.78. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The company has a market cap of $111.80 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.24.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm had revenue of $18.61 billion during the quarter, compared to analyst estimates of $18.45 billion. During the same quarter last year, the business posted $6.84 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, equities research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio is presently 77.05%.

Insiders Place Their Bets

In related news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the completion of the transaction, the chief operating officer owned 1 shares in the company, valued at $491.04. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research note on Friday, October 10th. Susquehanna lifted their price target on Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a research note on Thursday, October 9th. Truist Financial increased their target price on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Robert W. Baird raised their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, Sanford C. Bernstein upped their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $506.67.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.