Financial Enhancement Group LLC Buys 5,918 Shares of Lockheed Martin Co. (NYSE:LMT)

Posted by Defense World Staff on Sep 13th, 2023

Financial Enhancement Group LLC increased its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 130.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,444 shares of the aerospace company’s stock after purchasing an additional 5,918 shares during the period. Financial Enhancement Group LLC’s holdings in Lockheed Martin were worth $4,676,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of LMT. State Street Corp grew its position in Lockheed Martin by 0.5% in the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock valued at $17,950,761,000 after acquiring an additional 176,739 shares during the last quarter. FMR LLC grew its holdings in shares of Lockheed Martin by 3.4% during the 1st quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock valued at $3,544,387,000 after purchasing an additional 244,251 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock worth $2,821,626,000 after purchasing an additional 382,510 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lockheed Martin by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,387,684 shares of the aerospace company’s stock valued at $2,132,545,000 after purchasing an additional 11,855 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Lockheed Martin by 81,305.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock valued at $927,896,000 after buying an additional 1,904,985 shares in the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lockheed Martin

In related news, Director John Donovan purchased 548 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was acquired at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the purchase, the director now owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Trading Down 0.7 %

Shares of LMT stock opened at $417.86 on Wednesday. The company has a market cap of $105.23 billion, a P/E ratio of 15.28, a PEG ratio of 2.42 and a beta of 0.65. Lockheed Martin Co. has a fifty-two week low of $381.55 and a fifty-two week high of $508.10. The stock has a 50 day simple moving average of $450.01 and a two-hundred day simple moving average of $461.07. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.16 and a current ratio of 1.36.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.28. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the prior year, the firm earned $6.32 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, August 31st. Lockheed Martin’s dividend payout ratio is currently 43.88%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. Citigroup decreased their price target on shares of Lockheed Martin from $579.00 to $555.00 in a research report on Wednesday, July 19th. StockNews.com began coverage on shares of Lockheed Martin in a report on Thursday, August 17th. They set a “buy” rating on the stock. Wells Fargo & Company increased their price objective on Lockheed Martin from $433.00 to $440.00 in a report on Wednesday, July 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $532.00 target price on shares of Lockheed Martin in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $499.43.

View Our Latest Stock Analysis on Lockheed Martin

Lockheed Martin Company Profile

(Free Report)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.