Korea Investment CORP Sells 37,819 Shares of Lockheed Martin Corporation $LMT

Key Points

• Korea Investment CORP decreased its stake in Lockheed Martin by 20.8%, selling 37,819 shares to hold a total of 144,145 shares valued at approximately $64.4 million.
• Research analysts have issued varying ratings for Lockheed Martin, with a consensus average rating of "Hold" and a price target around $506.65.
• The company reported earnings of $7.29 per share for its recent quarter, surpassing analyst expectations, but its revenue of $18.16 billion fell slightly short of estimates.

Korea Investment CORP decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 20.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 144,145 shares of the aerospace company's stock after selling 37,819 shares during the period. Korea Investment CORP owned 0.06% of Lockheed Martin worth $64,391,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LMT. 49 Wealth Management LLC raised its holdings in Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after buying an additional 22 shares during the period. OMNI 360 Wealth Inc. increased its position in shares of Lockheed Martin by 2.5% during the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after acquiring an additional 22 shares in the last quarter. Tyler Stone Wealth Management raised its holdings in shares of Lockheed Martin by 3.3% during the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after acquiring an additional 22 shares during the period. Tealwood Asset Management Inc. raised its holdings in shares of Lockheed Martin by 0.4% during the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after acquiring an additional 23 shares during the period. Finally, Southland Equity Partners LLC lifted its position in Lockheed Martin by 3.1% in the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after acquiring an additional 23 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Lockheed Martin stock traded down $1.8550 during trading hours on Friday, hitting $445.3450. The company had a trading volume of 1,252,326 shares, compared to its average volume of 1,667,013. The firm has a 50-day moving average of $449.45 and a 200 day moving average of $456.35. 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 firm has a market cap of $103.97 billion, a PE ratio of 25.07, a PEG ratio of 1.57 and a beta of 0.27. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95.

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

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.0%. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LMT. Jefferies Financial Group lowered their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Vertical Research reiterated a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. Bank of America dropped their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research report on Thursday. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $506.35.

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.