Impact Partnership Wealth LLC Reduces Stake in Lockheed Martin

Impact Partnership Wealth LLC has significantly reduced its ownership in Lockheed Martin Co. (NYSE:LMT) by 64.9% during the third quarter, as indicated in the company’s latest submission to the Securities and Exchange Commission. After this transaction, the fund now possesses 636 shares of the aerospace firm, having sold off 1,177 shares in that timeframe. The recent filing shows that Impact Partnership Wealth LLC's investment in Lockheed Martin was valued at approximately $372,000.

Recent Changes in Holdings by Other Hedge Funds

In addition to Impact Partnership Wealth LLC, several other hedge funds have also made adjustments to their positions in Lockheed Martin. For instance, Mattson Financial Services LLC established a new stake in the company during the second quarter, which was worth around $27,000. Similarly, Sachetta LLC increased its share count by 50.0% during the same period, now holding a total of 60 shares valued at $28,000 after adding 20 shares. Wiser Advisor Group LLC enhanced its stake by 65.8% in the first quarter, now owning 63 shares valued at $29,000 after purchasing an additional 25 shares. Also, Edmond DE Rothschild Holding S.A. made a new investment in Lockheed Martin worth approximately $30,000 during the first quarter of this year. Lastly, Stephens Consulting LLC raised its position by 48.9% in the second quarter, bringing its total to 67 shares worth $31,000 after acquiring 22 more shares. Collectively, institutional investors and hedge funds now own about 74.19% of Lockheed Martin’s stock.

Analyst Updates on Lockheed Martin Stock

Several financial analysts have provided recent insights regarding Lockheed Martin’s stock performance. Citigroup raised its price target from $570.00 to $700.00, assigning a 'buy' rating in a report dated October 10th. Conversely, Royal Bank of Canada reduced its price target from $675.00 to $665.00 while maintaining an 'outperform' rating. Morgan Stanley also increased its target from $503.00 to $599.00, reflecting an 'equal weight' rating. Moreover, JPMorgan Chase & Co. raised its target from $560.00 to $630.00 and assigned an 'overweight' rating on October 14th. Melius upgraded Lockheed Martin from a 'hold' to a 'buy' rating, setting a target of $704.00 in a report on September 3rd. Overall, one analyst has rated the stock as a sell, four analysts have given hold ratings, nine analysts have issued buy ratings, and one has provided a strong buy rating. Current consensus indicates a 'Moderate Buy' rating for Lockheed Martin with an average price target of $606.71, according to MarketBeat.com.

Lockheed Martin Stock Performance

As of the last trading session on Friday, Lockheed Martin shares opened at $564.21. The firm boasts a market capitalization of $135.38 billion, with a price-to-earnings ratio of 20.64 and a price-to-earnings-growth ratio of 4.84. The company has recorded a 52-week low of $413.92 and a high of $618.95. The company’s quick ratio is 1.07, its current ratio stands at 1.24, and it has a debt-to-equity ratio of 3.10. Additionally, Lockheed Martin's stock maintains a 50-day moving average of $579.95 and a 200-day moving average of $513.50.

Earnings Report and Dividend Increase

Lockheed Martin recently released its earnings results on October 22nd, where it announced earnings per share (EPS) of $6.84, exceeding analysts' estimates of $6.50 by $0.34. The company achieved a revenue figure of $17.10 billion against expected earnings of $17.38 billion. Notably, Lockheed Martin experienced a net profit margin of 9.48% and a remarkable return on equity of 95.03%. Year-over-year, the firm’s revenue rose by 1.3%. During the same quarter in the previous year, the EPS was reported at $6.77. Analysts predict that Lockheed Martin will post an EPS of 26.68 for the current fiscal year.

Furthermore, the company recently declared a quarterly dividend which is set to be paid on December 27th. Shareholders of record by December 2nd will receive a dividend payment of $3.30 per share, up from the previous dividend of $3.15. Annually, this amounts to a dividend of $13.20, with a yield of 2.34%. Lockheed Martin's dividend payout ratio is currently at 48.30%.

Company Overview

Lockheed Martin Corporation is a leading security and aerospace firm that is involved in the research, design, development, manufacturing, integration, and maintenance of technological systems, products, and services across the globe. The company operates through various segments, including Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

Lockheed, Investment, Stocks