AlphaQuest LLC Sells 1,933 Shares of Lockheed Martin Corporation $LMT

Key Points

• AlphaQuest LLC reduced its stake in Lockheed Martin by 47.7%, selling 1,933 shares and holding 2,120 shares valued at $982,000 after the transaction.
• Lockheed Martin's quarterly earnings exceeded analysts' expectations, reporting $6.95 earnings per share and $18.61 billion in revenue, reflecting an 8.8% year-over-year increase.
• The company announced a dividend increase to $3.45 per share, scheduled for payment on December 30th, resulting in an annualized yield of 2.8%.

AlphaQuest LLC decreased its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 47.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,120 shares of the aerospace company's stock after selling 1,933 shares during the period. AlphaQuest LLC's holdings in Lockheed Martin were worth $982,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LMT. Mid American Wealth Advisory Group Inc. bought a new stake in Lockheed Martin during the second quarter worth about $28,000. TruNorth Capital Management LLC purchased a new position in Lockheed Martin in the first quarter worth about $31,000. Frazier Financial Advisors LLC purchased a new position in Lockheed Martin in the second quarter worth about $34,000. GFG Capital LLC purchased a new position in Lockheed Martin in the second quarter worth about $43,000. Finally, Bernard Wealth Management Corp. raised its holdings in Lockheed Martin by 251.9% in the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock worth $44,000 after buying an additional 68 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMT. The Goldman Sachs Group boosted their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a "sell" rating in a report on Friday, October 10th. Vertical Research reissued a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a report on Saturday. Wall Street Zen raised shares of Lockheed Martin from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Sanford C. Bernstein boosted their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a "market perform" rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $513.47.

Lockheed Martin Stock Performance

LMT opened at $485.59 on Friday. The firm has a market cap of $112.37 billion, a P/E ratio of 27.11, a PEG ratio of 1.60 and a beta of 0.28. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $576.43. The company has a 50 day simple moving average of $477.51 and a two-hundred day simple moving average of $466.54. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping analysts' consensus estimates of $6.33 by $0.62. The business had revenue of $18.61 billion during the quarter, compared to analyst estimates of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share 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. Shareholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio is 73.70%.

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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