Corundum Group Inc. Has $11.51 Million Position in Lockheed Martin Corporation $LMT

Key Points

• Corundum Group Inc. cut its Lockheed Martin stake by 26.1% in the first quarter, selling 6,715 shares and leaving it with 19,045 shares valued at about $11.51 million.
• Lockheed Martin received a major boost when the U.S. government awarded it a seven-year contract worth up to $35 billion to quadruple production of THAAD missile interceptors, strengthening its backlog and revenue visibility.
• The stock has faced some near-term pressure and mixed Wall Street views, with analysts holding a consensus rating of Hold and an average price target of $620.68, while the shares recently traded below their 50-day and 200-day moving averages.

Corundum Group Inc. lowered its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 26.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,045 shares of the aerospace company's stock after selling 6,715 shares during the period. Lockheed Martin comprises 3.8% of Corundum Group Inc.'s holdings, making the stock its 5th biggest holding. Corundum Group Inc.'s holdings in Lockheed Martin were worth $11,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Welch Group LLC boosted its stake in shares of Lockheed Martin by 1.5% during the 4th quarter. Welch Group LLC now owns 132,684 shares of the aerospace company's stock worth $64,175,000 after acquiring an additional 1,999 shares in the last quarter. Jain Global LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth $38,064,000. World Investment Advisors raised its position in shares of Lockheed Martin by 54.7% during the fourth quarter. World Investment Advisors now owns 14,739 shares of the aerospace company's stock worth $7,129,000 after purchasing an additional 5,214 shares during the period. Clough Capital Partners L P purchased a new stake in shares of Lockheed Martin during the third quarter valued at $31,018,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Lockheed Martin by 5.4% during the first quarter. SG Americas Securities LLC now owns 276,383 shares of the aerospace company's stock valued at $167,043,000 after purchasing an additional 14,150 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Lockheed Martin

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: The U.S. government awarded Lockheed Martin a seven-year contract action worth up to $35 billion to quadruple production of THAAD missile interceptors, a major win that should boost revenue visibility and strengthen the company’s defense backlog. Article Title
• Positive Sentiment: The THAAD award comes as the U.S. is pushing defense contractors to ramp up weapons production, suggesting Lockheed could benefit from sustained demand tied to replenishing missile stockpiles and higher military readiness spending. Article Title
• Neutral Sentiment: Lockheed Martin also appeared in comparison and investor-interest coverage, which highlights ongoing attention to its valuation, backlog, and debt profile, but these pieces did not present a clear new catalyst. Article Title
• Negative Sentiment: The stock has been falling more than the broader market recently, with recent articles pointing to weakness over the last couple of sessions and investor concern around geopolitical noise and near-term momentum. Article Title

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LMT. Jefferies Financial Group reiterated a "hold" rating and issued a $595.00 price target on shares of Lockheed Martin in a research report on Sunday, April 26th. Argus boosted their price objective on Lockheed Martin from $530.00 to $735.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Citigroup reduced their price objective on shares of Lockheed Martin from $675.00 to $571.00 and set a "neutral" rating for the company in a research note on Monday, May 18th. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Morgan Stanley dropped their target price on shares of Lockheed Martin from $675.00 to $653.00 and set an "equal weight" rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $620.68.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $491.80 on Thursday. The company has a market capitalization of $113.39 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 0.91 and a beta of 0.10. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $692.00. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 2.74. The stock's fifty day simple moving average is $530.43 and its 200-day simple moving average is $566.81.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The aerospace company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.79 by ($0.35). Lockheed Martin had a return on equity of 101.64% and a net margin of 6.38%.The business had revenue of $18.02 billion during the quarter, compared to analysts' expectations of $18.38 billion. During the same period in the prior year, the company posted $7.28 earnings per share. The firm's revenue was up .3% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.350-30.250 EPS. On average, sell-side analysts predict that Lockheed Martin Corporation will post 29.88 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, June 1st. Lockheed Martin's dividend payout ratio is 66.83%.

Lockheed Martin Company Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.