Fifth Third Wealth Advisors LLC Acquires 1,187 Shares of Lockheed Martin Corporation $LMT

Fifth Third Wealth Advisors LLC increased its holdings in Lockheed Martin Corporation (NYSE:LMT) by 16.1% in the third quarter, HoldingsChannel.com reports. The fund owned 8,546 shares of the aerospace company’s stock after acquiring an additional 1,187 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Lockheed Martin were worth $4,266,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Lockheed Martin in the 2nd quarter worth about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at about $29,000. Frazier Financial Advisors LLC bought a new position in Lockheed Martin in the second quarter worth about $34,000. MTM Investment Management LLC bought a new position in Lockheed Martin in the second quarter worth about $36,000. Finally, Kilter Group LLC purchased a new stake in Lockheed Martin in the second quarter worth about $40,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Citigroup assumed coverage on Lockheed Martin in a research note on Thursday, December 11th. They issued a “neutral” rating and a $505.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $515.00 target price (up previously from $465.00) on shares of Lockheed Martin in a report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Hold” and an average target price of $506.67.

Insider Activity

In other news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the transaction, the chief operating officer owned 1 shares in the company, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Up 2.7%

Shares of NYSE:LMT opened at $496.77 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The stock has a fifty day simple moving average of $470.79 and a two-hundred day simple moving average of $466.30. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $516.00. The stock has a market capitalization of $114.95 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.41 and a beta of 0.24.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating the consensus estimate of $6.33 by $0.62. The firm had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st were issued a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.8%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend was Monday, December 1st. Lockheed Martin’s dividend payout ratio is presently 77.05%.

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.