Beacon Financial Group Lowers Holdings in Lockheed Martin Corporation $LMT

Key Points

• Beacon Financial Group has reduced its stake in Lockheed Martin Corporation by 8.2%, now holding 7,255 shares valued at approximately $3.36 million.
• A number of hedge funds have increased their positions in Lockheed Martin, with Charles Schwab Investment Management boosting its stake by 7.5%, now owning over 8 million shares.
• Analysts have recently downgraded their price targets for Lockheed Martin, with JPMorgan Chase lowering it from $520 to $465, while overall market sentiment is rated as "Hold".

Beacon Financial Group decreased its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 8.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,255 shares of the aerospace company's stock after selling 652 shares during the quarter. Beacon Financial Group's holdings in Lockheed Martin were worth $3,360,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 7.5% during the first 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 in the last quarter. Royal Bank of Canada boosted its position in Lockheed Martin by 1.4% during the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock worth $1,021,846,000 after purchasing an additional 31,443 shares in the last quarter. Invesco Ltd. boosted its position in Lockheed Martin by 0.6% during the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock worth $958,116,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC boosted its position in Lockheed Martin by 41,104.9% during the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Lockheed Martin by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock worth $580,317,000 after purchasing an additional 24,512 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LMT shares. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. TD Cowen reiterated a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Bank of America decreased their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. One equities research 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 company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of "Hold" and an average price target of $494.00.

Lockheed Martin Price Performance

LMT stock opened at $473.34 on Tuesday. The business has a fifty day moving average of $446.48 and a two-hundred day moving average of $458.57. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The stock has a market cap of $110.51 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.66 and a beta of 0.26. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period last year, the business posted $7.11 earnings per share. The company's quarterly revenue 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, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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

Lockheed Martin Company 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.

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.