Legal & General Group Plc Lowers Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• Legal & General Group Plc reduced its Lockheed Martin stake by 2.8% in the fourth quarter, selling 28,464 shares and ending with 994,476 shares valued at about $481 million.
• Several other institutional investors also adjusted their positions, and 74.19% of Lockheed Martin’s stock is owned by hedge funds and other institutions.
• Analysts remain mixed on LMT after earnings and price-target cuts, with the stock carrying an average “Hold” rating and an average target price of $620.68; the company also posted Q1 EPS and revenue below expectations.

Legal & General Group Plc trimmed its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 994,476 shares of the aerospace company's stock after selling 28,464 shares during the quarter. Legal & General Group Plc owned approximately 0.43% of Lockheed Martin worth $480,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Oppenheimer & Co. Inc. raised its stake in Lockheed Martin by 9.3% in the third quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company's stock valued at $19,674,000 after purchasing an additional 3,352 shares in the last quarter. Welch Group LLC raised its stake in Lockheed Martin by 1.5% in the fourth quarter. Welch Group LLC now owns 132,684 shares of the aerospace company's stock valued at $64,175,000 after purchasing an additional 1,999 shares in the last quarter. Jain Global LLC purchased a new stake in Lockheed Martin in the third quarter valued at approximately $38,064,000. Atlantic Union Bankshares Corp raised its stake in Lockheed Martin by 182.0% in the third quarter. Atlantic Union Bankshares Corp now owns 37,014 shares of the aerospace company's stock valued at $18,478,000 after purchasing an additional 23,888 shares in the last quarter. Finally, Clough Capital Partners L P purchased a new stake in Lockheed Martin in the third quarter valued at approximately $31,018,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMT shares. Susquehanna lowered their target price on shares of Lockheed Martin from $740.00 to $700.00 and set a "positive" rating on the stock in a research note on Friday, April 24th. Morgan Stanley lowered their target price on shares of Lockheed Martin from $675.00 to $653.00 and set an "equal weight" rating on the stock in a research note on Friday, April 24th. Wells Fargo & Company started coverage on shares of Lockheed Martin in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $650.00 target price on the stock. Truist Financial raised their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lockheed Martin from $615.00 to $575.00 and set a "hold" rating on the stock in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average target price of $620.68.

Lockheed Martin Trading Up 0.1%

LMT stock opened at $533.57 on Tuesday. The company has a market capitalization of $123.02 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $692.00. The company's 50 day moving average price is $575.32 and its two-hundred day moving average price is $556.85. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.94 and a current ratio of 1.14.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The aerospace company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.79 by ($0.35). The business had revenue of $18.02 billion for the quarter, compared to analysts' expectations of $18.38 billion. Lockheed Martin had a return on equity of 101.64% and a net margin of 6.38%.The company's revenue was up .3% compared to the same quarter last year. During the same period last year, the business posted $7.28 earnings per share. Lockheed Martin has set its FY 2026 guidance at 29.350-30.250 EPS. As a group, analysts predict that Lockheed Martin Corporation will post 29.88 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, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.6%. Lockheed Martin's dividend payout ratio (DPR) is 66.83%.

Lockheed Martin Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

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