King Wealth Management Group Has $8.04 Million Holdings in Lockheed Martin Corporation $LMT

King Wealth Management Group decreased its holdings in Lockheed Martin Corporation (NYSE:LMT) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,352 shares of the aerospace company’s stock after selling 181 shares during the period. Lockheed Martin comprises approximately 1.1% of King Wealth Management Group’s investment portfolio, making the stock its 23rd biggest holding. King Wealth Management Group’s holdings in Lockheed Martin were worth $8,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LMT. Charles Schwab Investment Management Inc. lifted its holdings in Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Geode Capital Management LLC lifted its position in Lockheed Martin by 0.4% during the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after acquiring an additional 19,459 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Lockheed Martin by 1.4% during the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock worth $1,021,846,000 after acquiring an additional 31,443 shares during the period. Invesco Ltd. grew its position in shares of Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock valued at $958,116,000 after purchasing an additional 12,899 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Lockheed Martin by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company’s stock worth $580,317,000 after purchasing an additional 24,512 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. Robert W. Baird boosted their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $519.00 target price on Lockheed Martin and gave the stock a “hold” rating in a report on Wednesday, October 8th. Truist Financial upped their price target on shares of Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $513.47.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 1 shares of the company’s stock, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $455.76 on Friday. The firm’s 50 day simple moving average is $484.17 and its 200 day simple moving average is $467.18. The firm has a market capitalization of $105.46 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.69 and a beta of 0.25. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $561.35.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping the consensus estimate of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The firm had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same period in the prior year, the company earned $6.84 earnings per share. The company’s quarterly 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, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 3.0%. Lockheed Martin’s payout ratio is presently 77.05%.

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.