GLOBALT Investments LLC GA Sells 566 Shares of Lockheed Martin Corporation $LMT

Key Points

• GLOBALT Investments LLC GA reduced its stake in Lockheed Martin Corporation by 5.1%, selling 566 shares and holding 10,637 shares valued at approximately $4.93 million.
• Lockheed Martin reported $6.95 EPS for the last quarter, exceeding the consensus estimate by $0.62, with an annual revenue growth of 8.8%.
• The company announced an increase in its quarterly dividend to $3.45 per share, which reflects a dividend yield of 2.8% and will be paid to shareholders on December 30th.

GLOBALT Investments LLC GA lessened its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,637 shares of the aerospace company's stock after selling 566 shares during the quarter. GLOBALT Investments LLC GA's holdings in Lockheed Martin were worth $4,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lockheed Martin during the second quarter valued at approximately $28,000. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin during the first quarter worth $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin during the second quarter valued at $34,000. GFG Capital LLC purchased a new position in Lockheed Martin in the 2nd quarter worth about $43,000. Finally, Bernard Wealth Management Corp. increased its stake in Lockheed Martin by 251.9% in the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock worth $44,000 after buying an additional 68 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE LMT opened at $487.95 on Friday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.83 and a current ratio of 1.13. The stock's fifty day moving average is $476.56 and its two-hundred day moving average is $466.07. The firm has a market capitalization of $112.91 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $576.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating the consensus estimate of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm had revenue of $18.61 billion for the quarter, compared to analysts' expectations of $18.45 billion. During the same quarter in the previous year, the company posted $6.84 EPS. The company's revenue was up 8.8% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio is presently 74.32%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, UBS Group lowered their target price on Lockheed Martin from $514.00 to $513.00 and set a "neutral" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $513.47.

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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