1832 Asset Management L.P. Lowers Position in Lockheed Martin Corporation $LMT

Key Points

• 1832 Asset Management L.P. has reduced its stake in Lockheed Martin by 27.9%, selling 2,638 shares and leaving it with 6,833 shares valued at approximately $3.05 million.
• Several hedge funds have increased their holdings in Lockheed Martin, with Charles Schwab Investment Management raising its position by 7.5% and GAMMA Investing LLC making a significant increase of 41,104.9%.
• Lockheed Martin announced a quarterly dividend of $3.30, representing a 3.0% yield, with the ex-dividend date set for September 2nd.

1832 Asset Management L.P. cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 27.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,833 shares of the aerospace company's stock after selling 2,638 shares during the quarter. 1832 Asset Management L.P.'s holdings in Lockheed Martin were worth $3,052,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at $31,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Banque Transatlantique SA acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $43,000. EQ Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at $43,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at $45,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LMT shares. TD Cowen restated a "hold" rating and issued a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. UBS Group reduced their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Bank of America dropped their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. Finally, Vertical Research reaffirmed a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $506.35.

Lockheed Martin Stock Performance

Lockheed Martin stock traded down $1.18 during midday trading on Wednesday, hitting $454.28. 1,293,770 shares of the company's stock were exchanged, compared to its average volume of 1,586,460. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The stock has a market cap of $106.06 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.27. The firm's 50 day simple moving average is $447.52 and its 200 day simple moving average is $456.40.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the firm posted $7.11 EPS. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.9%. Lockheed Martin's payout ratio is presently 74.32%.

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.