Baird Financial Group Inc. Lowers Stake in Lockheed Martin Corporation $LMT

Key Points

• Baird Financial Group Inc. has reduced its shareholding in Lockheed Martin Corporation by 20.3%, owning 100,666 shares valued at approximately $44.97 million following the sale of 25,696 shares in the first quarter.
• Several analysts have downgraded their price targets for Lockheed Martin, with Susquehanna setting a new target of $490.00, while Truist Financial lowered theirs from $554.00 to $440.00.
• The company declared a quarterly dividend of $3.30 per share to be paid on September 26th, representing a 2.9% yield based on an annualized amount of $13.20.

Baird Financial Group Inc. lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,666 shares of the aerospace company's stock after selling 25,696 shares during the period. Baird Financial Group Inc.'s holdings in Lockheed Martin were worth $44,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LMT. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin during the first quarter worth about $31,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter worth about $35,000. Banque Transatlantique SA bought a new stake in shares of Lockheed Martin during the fourth quarter worth about $43,000. EQ Wealth Advisors LLC bought a new stake in shares of Lockheed Martin during the first quarter worth about $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Lockheed Martin during the first quarter worth about $45,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $3.74 during trading on Wednesday, reaching $448.76. 1,535,279 shares of the company's stock traded hands, compared to its average volume of 1,420,901. The company has a market capitalization of $104.77 billion, a P/E ratio of 15.67, a PEG ratio of 1.60 and a beta of 0.26. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The firm's 50-day moving average is $446.49 and its 200 day moving average is $456.95. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95.

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, beating 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 company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the prior year, the company posted $7.11 EPS. Lockheed Martin's revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. 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 report on Wednesday, July 23rd. UBS Group reduced their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Bank of America reduced their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Finally, Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $494.00.

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.