Bridges Investment Management Inc. Reduces Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• Bridges Investment Management Inc. reduced its stake in Lockheed Martin by 4.2% during Q2, now owning 37,366 shares valued at approximately $17.3 million.
• Lockheed Martin reported earnings per share of $7.29 for the latest quarter, exceeding expectations, with a year-over-year revenue increase of 0.2%.
• The company announced an increase in its quarterly dividend to $3.45 per share, up from the previous $3.30, providing a yield of 2.8%.

Bridges Investment Management Inc. decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,366 shares of the aerospace company's stock after selling 1,636 shares during the quarter. Bridges Investment Management Inc.'s holdings in Lockheed Martin were worth $17,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in Lockheed Martin during the 1st quarter valued at $31,000. Frazier Financial Advisors LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at $34,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin during the 1st quarter valued at $43,000. GFG Capital LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at $43,000. Finally, Bernard Wealth Management Corp. raised its holdings in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 68 shares during the period. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Down 1.2%

Shares of NYSE:LMT opened at $499.17 on Thursday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The firm has a fifty day moving average of $469.31 and a 200 day moving average of $464.06. The firm has a market capitalization of $116.54 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

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

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a dividend of $3.45 per share. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.8%. Lockheed Martin's dividend payout ratio (DPR) is currently 77.70%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. UBS Group decreased their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Bank of America decreased their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. Finally, Vertical Research reaffirmed a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $510.29.

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.

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