Econ Financial Services Corp Takes $2.52 Million Position in Lockheed Martin Corporation $LMT

Econ Financial Services Corp acquired a new position in shares of Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,048 shares of the aerospace company’s stock, valued at approximately $2,520,000. Lockheed Martin comprises about 1.3% of Econ Financial Services Corp’s investment portfolio, making the stock its 28th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after acquiring an additional 191 shares during the period. Federation des caisses Desjardins du Quebec grew its position in Lockheed Martin by 13.1% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 11,947 shares of the aerospace company’s stock worth $5,337,000 after purchasing an additional 1,382 shares during the last quarter. Aprio Wealth Management LLC increased its holdings in shares of Lockheed Martin by 15.7% during the 1st quarter. Aprio Wealth Management LLC now owns 610 shares of the aerospace company’s stock worth $273,000 after purchasing an additional 83 shares during the period. Ancora Advisors LLC increased its holdings in shares of Lockheed Martin by 3.1% during the 1st quarter. Ancora Advisors LLC now owns 2,210 shares of the aerospace company’s stock worth $987,000 after purchasing an additional 66 shares during the period. Finally, Amundi raised its position in shares of Lockheed Martin by 13.4% during the first quarter. Amundi now owns 25,094 shares of the aerospace company’s stock valued at $11,412,000 after buying an additional 2,962 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other 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 shares were 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 owned 1 shares of the company’s stock, valued at approximately $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LMT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $515.00 price objective (up previously from $465.00) on shares of Lockheed Martin in a research report on Friday, December 19th. UBS Group lowered their price objective on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 22nd. BNP Paribas upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, Sanford C. Bernstein raised their target price on Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $506.67.

Lockheed Martin Price Performance

Shares of LMT stock opened at $483.70 on Friday. 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 stock’s fifty day simple moving average is $470.57 and its 200 day simple moving average is $466.18. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $516.00. The firm has a market cap of $111.93 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 1.46 and a beta of 0.24.

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

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st were paid a dividend of $3.45 per share. 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 2.9%. The ex-dividend date of this dividend was Monday, December 1st. Lockheed Martin’s payout ratio is currently 77.05%.

Lockheed Martin Profile

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.