Legacy Private Trust Co. Decreases Stock Position in Lockheed Martin Corporation $LMT

Key Points

• Legacy Private Trust Co. has reduced its holdings in Lockheed Martin by 40.9%, now owning 2,761 shares worth approximately $1.28 million.
• Lockheed Martin's recent quarterly earnings exceeded expectations with an EPS of $7.29, surpassing the consensus estimate of $6.57.
• The company declared a quarterly dividend of $3.30 per share, expected to be paid on September 26, representing an annual yield of 2.8%.

Legacy Private Trust Co. reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 40.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,761 shares of the aerospace company's stock after selling 1,911 shares during the period. Legacy Private Trust Co.'s holdings in Lockheed Martin were worth $1,279,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth about $31,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin in the fourth quarter worth about $35,000. EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin in the first quarter worth about $43,000. Ritter Daniher Financial Advisory LLC DE purchased a new stake in Lockheed Martin in the first quarter worth about $45,000. Finally, McIlrath & Eck LLC lifted its holdings in Lockheed Martin by 161.0% in the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock worth $48,000 after buying an additional 66 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. TD Cowen restated a "hold" rating and issued a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Royal Bank Of Canada lowered their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Alembic Global Advisors raised shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. Finally, Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $494.00.

Lockheed Martin Stock Down 0.1%

LMT traded down $0.70 during trading on Friday, hitting $472.92. 2,839,060 shares of the company's stock traded hands, compared to its average volume of 1,287,031. The company's 50 day simple moving average is $447.18 and its two-hundred day simple moving average is $459.10. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock has a market capitalization of $110.41 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.67 and a beta of 0.26.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued 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. 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 the consensus estimate of $18.59 billion. During the same period last year, the business posted $7.11 EPS. The company'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. Analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 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.