Brookstone Capital Management Lowers Stake in Lockheed Martin Corporation $LMT

Key Points

• Brookstone Capital Management reduced its stake in Lockheed Martin Corporation by 4.4%, owning 31,159 shares valued at approximately $14.4 million after selling 1,448 shares in the second quarter.
• Lockheed Martin increased its quarterly dividend from $3.30 to $3.45 per share, reflecting an annual yield of 2.8%, to be paid on December 30th.
• The company reported strong quarterly earnings with $6.95 EPS, exceeding analysts' expectations, and a revenue of $18.61 billion, which was above consensus estimates.

Brookstone Capital Management reduced its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,159 shares of the aerospace company's stock after selling 1,448 shares during the period. Brookstone Capital Management's holdings in Lockheed Martin were worth $14,431,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. Charles Schwab Investment Management Inc. grew 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 during the last quarter. Nuveen LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $221,790,000. AQR Capital Management LLC lifted its stake in shares of Lockheed Martin by 76.7% in the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock worth $361,045,000 after acquiring an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Lockheed Martin by 17,506.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock worth $135,985,000 after acquiring an additional 302,684 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Lockheed Martin by 59.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company's stock worth $333,859,000 after acquiring an additional 278,121 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 3.3%

LMT stock opened at $489.09 on Wednesday. The company has a market cap of $114.19 billion, a P/E ratio of 27.54, a P/E/G ratio of 1.78 and a beta of 0.28. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $608.34. The company's 50-day moving average price is $474.67 and its 200 day moving average price is $465.52. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping analysts' consensus estimates of $6.33 by $0.62. The firm had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 an increase from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. Lockheed Martin's dividend payout ratio (DPR) is presently 77.70%.

Analyst Ratings Changes

Several research firms have recently commented on LMT. Sanford C. Bernstein raised their target price on shares of Lockheed Martin from $497.00 to $545.00 and gave the stock a "market perform" rating in a research note on Monday. Robert W. Baird raised their target price on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Bank of America reduced their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research note on Thursday, August 21st. Finally, Morgan Stanley raised their target price on shares of Lockheed Martin from $530.00 to $630.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $515.35.

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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