Lockheed Martin Corporation $LMT Shares Sold by Bowen Hanes & Co. Inc.

Key Points

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Bowen Hanes & Co. Inc. lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 39.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,813 shares of the aerospace company's stock after selling 5,680 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Lockheed Martin were worth $3,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 7.5% during the 1st 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. Northern Trust Corp increased its position in Lockheed Martin by 6.3% during the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock worth $1,098,667,000 after purchasing an additional 134,662 shares in the last quarter. Invesco Ltd. increased its position in Lockheed Martin by 0.6% during the 1st 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 increased its position in Lockheed Martin by 41,104.9% during the 1st 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 increased its position in 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 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.

Analysts Set New Price Targets

Several research firms have commented on LMT. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Vertical Research restated a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. TD Cowen restated a "hold" rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Finally, Royal Bank Of Canada lowered their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $506.35.

Lockheed Martin Trading Down 0.3%

Shares of NYSE LMT traded down $1.4680 during midday trading on Friday, hitting $445.7320. The stock had a trading volume of 1,889,568 shares, compared to its average volume of 1,705,822. The company has a market capitalization of $104.06 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.57 and a beta of 0.27. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. 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 company has a fifty day moving average price of $448.65 and a 200 day moving average price of $456.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating 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%.The company's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.0%. Lockheed Martin's payout ratio is 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.