Atlantic Union Bankshares Corp Buys 4,809 Shares of Lockheed Martin Corporation $LMT

Atlantic Union Bankshares Corp lifted its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 57.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,126 shares of the aerospace company's stock after purchasing an additional 4,809 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Lockheed Martin were worth $6,079,000 at the end of the most recent reporting period.

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Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new position in Lockheed Martin during the second quarter valued at $28,000. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin in the 1st quarter worth about $31,000. Frazier Financial Advisors LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter worth about $34,000. GFG Capital LLC bought a new position in Lockheed Martin during the 2nd quarter valued at about $43,000. Finally, Bernard Wealth Management Corp. grew its holdings in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

LMT stock opened at $469.15 on Friday. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $576.43. The business has a 50-day moving average price of $483.93 and a 200 day moving average price of $467.51. The company has a market capitalization of $108.56 billion, a P/E ratio of 26.19, a PEG ratio of 1.69 and a beta of 0.25. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.9%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's payout ratio is presently 77.05%.

Analysts Set New Price Targets

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LMT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on shares of Lockheed Martin and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Lockheed Martin from $440.00 to $525.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Susquehanna lifted their target price on Lockheed Martin from $490.00 to $590.00 and gave the stock a "positive" rating in a research report on Thursday, October 9th. Finally, UBS Group lowered their target price on shares of Lockheed Martin from $514.00 to $513.00 and set a "neutral" rating for the company in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $513.47.

Read Our Latest Report on LMT

Insiders Place Their Bets

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate 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.

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