Griffin Asset Management Inc. Sells 5,969 Shares of Lockheed Martin Corporation $LMT

Key Points

• Griffin Asset Management Inc. has reduced its stake in Lockheed Martin by 67.3%, selling 5,969 shares and now holding 2,905 shares valued at approximately $1.34 million.
• Several institutional investors, including Charles Schwab and Goldman Sachs, have increased their holdings in Lockheed Martin, contributing to a total institutional ownership of 74.19%.
• Lockheed Martin announced a quarterly dividend increase to $3.45, reflecting an annualized payout of $13.80 and a yield of 2.7%, with the payment date set for December 30th.

Griffin Asset Management Inc. lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 67.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,905 shares of the aerospace company's stock after selling 5,969 shares during the period. Griffin Asset Management Inc.'s holdings in Lockheed Martin were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Lockheed Martin by 7.5% during the first 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 last quarter. Royal Bank of Canada boosted its holdings in Lockheed Martin by 1.4% during the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock worth $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Invesco Ltd. boosted its holdings in Lockheed Martin by 0.6% during the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock worth $958,116,000 after buying an additional 12,899 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lockheed Martin by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock worth $580,317,000 after buying an additional 24,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Lockheed Martin by 4.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock worth $518,937,000 after buying an additional 51,522 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $519.00 target price on Lockheed Martin and gave the stock a "hold" rating in a report on Wednesday. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Robert W. Baird raised their price target on Lockheed Martin from $500.00 to $550.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Vertical Research reaffirmed a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lockheed Martin currently has an average rating of "Hold" and a consensus price target of $503.53.

Lockheed Martin Stock Down 0.5%

Shares of Lockheed Martin stock opened at $505.11 on Monday. The business's 50 day simple moving average is $464.89 and its 200 day simple moving average is $463.09. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The firm has a market cap of $117.93 billion, a PE ratio of 28.44, a P/E/G ratio of 1.77 and a beta of 0.28. 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 (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (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 for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the firm earned $7.11 EPS. Lockheed Martin's revenue for the quarter 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, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a $3.45 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's payout ratio is 77.70%.

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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