Corebridge Financial Inc. Has $20.87 Million Position in Lockheed Martin Corporation $LMT

Key Points

• Corebridge Financial Inc. reduced its stake in Lockheed Martin by 3.6% during the 1st quarter, now holding 46,725 shares valued at approximately $20.87 million.
• Lockheed Martin reported a quarterly EPS of $7.29, surpassing analyst expectations, and announced a dividend of $3.30 per share set to be paid on September 26th.
• Several institutional investors have increased their positions in Lockheed Martin, with 74.19% of the stock now owned by hedge funds and other financial entities.

Corebridge Financial Inc. cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,725 shares of the aerospace company's stock after selling 1,761 shares during the quarter. Corebridge Financial Inc.'s holdings in Lockheed Martin were worth $20,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 560,457 shares during the period. Northern Trust Corp lifted its stake in shares of Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the period. Invesco Ltd. lifted its stake in shares of Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares during the period. GAMMA Investing LLC lifted its stake in shares of Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lockheed Martin by 1.9% in 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 during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $447.63 on Tuesday. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The firm has a market capitalization of $104.50 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 1.57 and a beta of 0.27. The business has a 50-day simple moving average of $448.26 and a 200 day simple moving average of $456.42. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the company posted $7.11 EPS. The firm'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. On average, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 74.32%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LMT shares. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price objective for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Robert W. Baird dropped their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. TD Cowen reissued a "hold" rating and issued a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. Finally, Bank of America dropped their price objective on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $506.35.

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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