Jacobs Levy Equity Management Inc. Sells 63,530 Shares of Lockheed Martin Corporation $LMT

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Lockheed Martin by 51.7% during the first quarter, ending up with 59,393 shares valued at approximately $26.5 million.
• In contrast, GAMMA Investing LLC made a dramatic increase in its investment, boosting its stake by 41,104.9%, now holding nearly 2 million shares worth about $889.6 million.
• Lockheed Martin recently declared a quarterly dividend of $3.30, with an annualized yield of 2.8%, reflecting a payout ratio of 74.32%.

Jacobs Levy Equity Management Inc. trimmed its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 51.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,393 shares of the aerospace company's stock after selling 63,530 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Lockheed Martin were worth $26,531,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LMT. Entropy Technologies LP raised its holdings in shares of Lockheed Martin by 410.2% during the first quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock valued at $7,874,000 after acquiring an additional 14,171 shares during the period. PTM Wealth Management LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth $377,000. First American Bank boosted its holdings in Lockheed Martin by 18.8% in the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after purchasing an additional 1,327 shares during the period. Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Lockheed Martin by 18.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after buying an additional 2,686 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Lockheed Martin by 93.9% in the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after buying an additional 539 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LMT. Susquehanna lowered their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Bank of America lowered their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Robert W. Baird reduced their target price on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Vertical Research reaffirmed a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Finally, Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Trading Up 1.7%

Lockheed Martin stock traded up $7.82 during midday trading on Thursday, hitting $471.69. 770,790 shares of the stock were exchanged, compared to its average volume of 1,646,565. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a fifty day simple moving average of $446.09 and a two-hundred day simple moving average of $457.84. The stock has a market capitalization of $110.12 billion, a PE ratio of 26.59, a P/E/G ratio of 1.61 and a beta of 0.26.

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 the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the prior year, the business posted $7.11 earnings per share. Lockheed Martin'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. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.8%. Lockheed Martin's dividend payout ratio is presently 74.32%.

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.