Alliancebernstein L.P. Sells 45,121 Shares of Lockheed Martin Corporation $LMT

Key Points

• Alliancebernstein L.P. has reduced its holdings in Lockheed Martin Corporation by 15.1%, selling 45,121 shares and retaining 253,252 shares valued at approximately $113.13 million.
• Several institutional investors have significantly increased their stakes in Lockheed Martin, with GAMMA Investing LLC boosting its position by an impressive 41,104.9%.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, representing a yield of 2.8%, set to be paid on September 26th.

Alliancebernstein L.P. cut its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 15.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 253,252 shares of the aerospace company's stock after selling 45,121 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Lockheed Martin worth $113,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. GAMMA Investing LLC boosted its stake in Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after purchasing an additional 1,986,600 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in Lockheed Martin in the 4th quarter worth $451,985,000. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after purchasing an additional 560,457 shares during the period. Nuveen LLC acquired a new position in Lockheed Martin in the 1st quarter worth $221,790,000. Finally, AQR Capital Management LLC boosted its stake in Lockheed Martin by 76.7% in the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock worth $361,045,000 after purchasing an additional 350,796 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LMT. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Susquehanna reduced their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. TD Cowen restated a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Robert W. Baird reduced their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $494.00.

Lockheed Martin Trading Up 1.5%

Shares of NYSE:LMT opened at $463.68 on Friday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The company has a market capitalization of $108.25 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.61 and a beta of 0.26. The company has a 50-day simple moving average of $446.34 and a 200 day simple moving average of $457.37. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating 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 business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the business posted $7.11 EPS. Lockheed Martin's revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

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.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.