Blue Trust Inc. Sells 529 Shares of Lockheed Martin Corporation $LMT

Key Points

• Blue Trust Inc. has reduced its stake in Lockheed Martin by 6.0%, selling 529 shares and holding a total of 8,353 shares valued at approximately $3.87 million.
• Lockheed Martin reported $7.29 earnings per share (EPS) for the latest quarter, exceeding the consensus estimate by $0.72, while the company also plans to pay an increased quarterly dividend of $3.45.
• Institutional investors now control 74.19% of Lockheed Martin's stock, with various firms adjusting their positions, including a 7.5% increase by Charles Schwab Investment Management.

Blue Trust Inc. cut its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,353 shares of the aerospace company's stock after selling 529 shares during the period. Blue Trust Inc.'s holdings in Lockheed Martin were worth $3,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 560,457 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Lockheed Martin by 1.4% in the 1st quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock worth $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Invesco Ltd. grew its holdings in Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock worth $958,116,000 after acquiring an additional 12,899 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lockheed Martin by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after purchasing an additional 24,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Lockheed Martin by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock worth $518,937,000 after buying an additional 51,522 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 1.3%

LMT stock opened at $507.51 on Friday. 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 Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The business has a fifty day moving average of $463.21 and a 200-day moving average of $462.39. The company has a market cap of $118.49 billion, a P/E ratio of 28.58, a PEG ratio of 1.81 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.Lockheed Martin's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.11 earnings per share. 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 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LMT. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lockheed Martin in a research note on Wednesday. Susquehanna upped their target price on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a "positive" rating in a research report on Thursday. Alembic Global Advisors upgraded shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. Royal Bank Of Canada dropped their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Finally, Vertical Research reissued a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $503.13.

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.

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