Freestone Capital Holdings LLC Acquires 307 Shares of Lockheed Martin Corporation $LMT

Freestone Capital Holdings LLC raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,594 shares of the aerospace company’s stock after buying an additional 307 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Lockheed Martin were worth $6,296,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LMT. Mid American Wealth Advisory Group Inc. acquired a new position in Lockheed Martin during the 2nd quarter valued at $28,000. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin during the 1st quarter worth about $31,000. Frazier Financial Advisors LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth about $34,000. GFG Capital LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at about $43,000. Finally, Bernard Wealth Management Corp. lifted its stake in shares of Lockheed Martin by 251.9% in the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after buying an additional 68 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Up 0.5%

LMT opened at $492.04 on Monday. The firm has a market cap of $113.86 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.69 and a beta of 0.28. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The firm’s 50-day simple moving average is $481.90 and its 200-day simple moving average is $467.14. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $576.43.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) 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 net margin of 5.73% and a return on equity of 111.84%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a dividend of $3.45 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. Lockheed Martin’s dividend payout ratio is currently 77.05%.

Analysts Set New Price Targets

A number of brokerages have commented on LMT. Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Bank of America lowered their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Royal Bank Of Canada raised their target price on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average target price of $513.47.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction 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 sale, the chief operating officer directly owned 1 shares of the company’s stock, valued at $491.04. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

About Lockheed Martin

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.