Comerica Bank Sells 14,719 Shares of Lockheed Martin Corporation $LMT

Key Points

• Comerica Bank reduced its stake in Lockheed Martin Corporation by 17.7% during Q1, now holding 68,648 shares valued at $30.67 million.
• The company reported $7.29 earnings per share for the last quarter, exceeding analysts' expectations of $6.57.
• Lockheed Martin declared a quarterly dividend of $3.30 payable on September 26th, with a current annualized yield of 3.0%.

Comerica Bank lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,648 shares of the aerospace company's stock after selling 14,719 shares during the period. Comerica Bank's holdings in Lockheed Martin were worth $30,666,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LMT. OMNI 360 Wealth Inc. boosted its stake in Lockheed Martin by 2.5% in the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 22 shares during the period. 49 Wealth Management LLC boosted its position in shares of Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after acquiring an additional 22 shares during the period. Tyler Stone Wealth Management boosted its position in shares of Lockheed Martin by 3.3% in the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock valued at $306,000 after acquiring an additional 22 shares during the period. Tealwood Asset Management Inc. grew its stake in shares of Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after acquiring an additional 23 shares in the last quarter. Finally, Southland Equity Partners LLC increased its position in Lockheed Martin by 3.1% during the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after acquiring an additional 23 shares during the period. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LMT. Royal Bank Of Canada cut their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Vertical Research reiterated a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. reduced 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. TD Cowen restated a "hold" rating and set a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, Lockheed Martin has an average rating of "Hold" and an average target price of $506.35.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $1.18 during trading on Wednesday, reaching $454.28. 1,293,770 shares of the company's stock were exchanged, compared to its average volume of 1,586,460. 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 Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a market cap of $106.06 billion, a P/E ratio of 25.58, a PEG ratio of 1.60 and a beta of 0.27. The firm's 50-day moving average price is $447.52 and its 200 day moving average price is $456.40.

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. 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 for the quarter, compared to analyst estimates of $18.59 billion. During the same period last year, the firm posted $7.11 earnings per share. Lockheed Martin's revenue was up .2% compared to the same quarter last year. 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 Dividend Announcement

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 issued 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 dividend yield of 2.9%. Lockheed Martin's payout ratio is 74.32%.

Lockheed Martin 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.