Allspring Global Investments Holdings LLC Sells 63,290 Shares of Lockheed Martin Corporation $LMT

Key Points

• Allspring Global Investments Holdings LLC has sold 63,290 shares of Lockheed Martin, reducing its stake by 57.3% in the second quarter, leaving it with 47,130 shares valued at approximately $21.96 million.
• Lockheed Martin announced a quarterly dividend increase to $3.45 per share, payable on December 30th, up from $3.30, representing an annualized dividend of $13.80 with a yield of 2.8%.
• The aerospace firm reported earnings per share of $7.29 for the last quarter, exceeding analysts' expectations, with revenues of $18.16 billion and a net margin of 5.85%.

Allspring Global Investments Holdings LLC trimmed its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 57.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,130 shares of the aerospace company's stock after selling 63,290 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Lockheed Martin were worth $21,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sharp Financial Services LLC raised its holdings in Lockheed Martin by 47.2% during the 2nd quarter. Sharp Financial Services LLC now owns 1,217 shares of the aerospace company's stock valued at $564,000 after buying an additional 390 shares during the last quarter. Mitchell Sinkler & Starr PA raised its holdings in Lockheed Martin by 9.3% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,240 shares of the aerospace company's stock valued at $574,000 after buying an additional 105 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in Lockheed Martin by 0.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 4,122 shares of the aerospace company's stock worth $1,909,000 after purchasing an additional 28 shares in the last quarter. CWM LLC increased its stake in shares of Lockheed Martin by 7.4% in the 2nd quarter. CWM LLC now owns 66,595 shares of the aerospace company's stock worth $30,843,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Lockheed Martin by 31.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 33,292 shares of the aerospace company's stock valued at $15,431,000 after acquiring an additional 7,914 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $492.65 on Friday. The company has a 50 day moving average price of $470.54 and a 200-day moving average price of $464.37. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The firm has a market capitalization of $115.01 billion, a PE ratio of 27.74, a P/E/G ratio of 1.75 and a beta of 0.28. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the business posted $7.11 earnings per share. The business'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. As a group, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current 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 issued a $3.45 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.8%. Lockheed Martin's payout ratio is 74.32%.

Analyst Ratings Changes

LMT has been the topic of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. UBS Group dropped their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Truist Financial boosted their price objective on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $510.29.

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.

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