Interchange Capital Partners LLC Trims Stake in Lockheed Martin Corporation $LMT

Key Points

• Interchange Capital Partners LLC significantly reduced its stake in Lockheed Martin Corporation by 86.6% during the second quarter, dropping its holdings to just 102 shares worth approximately $47,000.
• Lockheed Martin reported quarterly earnings of $7.29 per share, exceeding analysts' expectations and demonstrating a year-over-year revenue increase, although the revenue fell slightly short of forecasts.
• The company has declared an increased quarterly dividend of $3.45, up from $3.30, with an annualized yield of 2.8% and a payout ratio of 77.70%.

Interchange Capital Partners LLC reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 86.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102 shares of the aerospace company's stock after selling 657 shares during the quarter. Interchange Capital Partners LLC's holdings in Lockheed Martin were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at $31,000. Frazier Financial Advisors LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $34,000. EQ Wealth Advisors LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at $43,000. GFG Capital LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $43,000. Finally, Bernard Wealth Management Corp. increased its holdings in shares of Lockheed Martin by 251.9% in the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 68 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.2%

Lockheed Martin stock opened at $499.17 on Thursday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The stock has a market capitalization of $116.54 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.78 and a beta of 0.28. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The business has a fifty day moving average price of $469.31 and a 200-day moving average price of $464.06.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a $3.45 dividend. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a yield of 2.8%. Lockheed Martin's dividend payout ratio is currently 77.70%.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Bank of America cut their price target on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. JPMorgan Chase & Co. cut their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Vertical Research reissued a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Robert W. Baird raised their price objective on Lockheed Martin from $500.00 to $550.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Alembic Global Advisors raised Lockheed Martin from a "neutral" rating to an "overweight" rating in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $510.29.

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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