Lockheed Martin Corporation $LMT Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Lockheed Martin stake by 15.2% in the second quarter, selling 411,028 shares and retaining 2.28 million shares worth approximately $1.16 billion. Institutional investors collectively own 74.19% of the company.
• Analyst sentiment remains mixed but improved recently: UBS and Weiss Ratings upgraded the stock to “Buy,” while the overall consensus rating is still “Hold” with an average price target of $637.56.
• Lockheed Martin exceeded quarterly expectations, reporting $7.94 in adjusted EPS and $20.06 billion in revenue, up 10.5% year over year. The company also declared a quarterly dividend of $3.45 per share, representing a 2.6% annualized yield.

Bank of America Corp DE cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 15.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,284,661 shares of the aerospace company's stock after selling 411,028 shares during the quarter. Bank of America Corp DE owned 0.99% of Lockheed Martin worth $1,163,944,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Lockheed Martin during the 2nd quarter worth about $9,617,574,000. Franklin Resources Inc. lifted its holdings in Lockheed Martin by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,670,284 shares of the aerospace company's stock valued at $807,866,000 after acquiring an additional 10,349 shares during the period. Deutsche Bank AG lifted its holdings in Lockheed Martin by 7.4% in the fourth quarter. Deutsche Bank AG now owns 1,440,840 shares of the aerospace company's stock valued at $696,891,000 after acquiring an additional 99,403 shares during the period. Bank of New York Mellon Corp acquired a new position in Lockheed Martin in the second quarter valued at approximately $645,258,000. Finally, Legal & General Group Plc purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $497,469,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird set a $700.00 price objective on shares of Lockheed Martin in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Lockheed Martin from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Citigroup increased their price target on shares of Lockheed Martin from $641.00 to $691.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Wells Fargo & Company set a $600.00 price target on shares of Lockheed Martin in a research report on Monday, July 27th. Finally, UBS Group raised shares of Lockheed Martin from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $581.00 to $674.00 in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $637.56.

Lockheed Martin Stock Up 1.0%

Lockheed Martin stock opened at $529.61 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. The stock has a market capitalization of $122.23 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.14 and a beta of 0.10. The business has a 50 day simple moving average of $555.78 and a 200-day simple moving average of $564.24. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The firm had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same quarter last year, the firm posted $1.46 EPS. The business's revenue was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. On average, analysts anticipate that Lockheed Martin Corporation will post 30.39 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be given a dividend of $3.45 per share. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.6%. Lockheed Martin's dividend payout ratio is currently 50.87%.

About Lockheed Martin

Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

The company's products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.

Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.

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