Busey Bank Sells 814 Shares of Lockheed Martin Corporation $LMT

Key Points

• Busey Bank reduced its holdings in Lockheed Martin Corporation by 7.7% during the second quarter, selling 814 shares and leaving it with 9,752 shares worth approximately $4.5 million.
• Institutional investors own 74.19% of Lockheed Martin's stock, with notable increases in holdings from several firms, including GAMMA Investing LLC, which grew its stake by over 41,000%.
• Analysts have set numerous target price adjustments for Lockheed Martin, with a consensus average target of $494.00 per share, reflecting downgrades from firms like Truist Financial and JPMorgan Chase.

Busey Bank trimmed its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 7.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,752 shares of the aerospace company's stock after selling 814 shares during the quarter. Busey Bank's holdings in Lockheed Martin were worth $4,517,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LMT. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin during the 1st quarter valued at $31,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $35,000. EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin in the first quarter valued at approximately $43,000. Ritter Daniher Financial Advisory LLC DE acquired a new stake in Lockheed Martin during the first quarter valued at $45,000. Finally, McIlrath & Eck LLC increased its stake in Lockheed Martin by 161.0% during the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock worth $48,000 after buying an additional 66 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $1.35 during trading on Tuesday, reaching $481.74. The company's stock had a trading volume of 405,343 shares, compared to its average volume of 1,634,711. The stock has a 50-day moving average price of $447.32 and a two-hundred day moving average price of $459.12. 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 one year low of $410.11 and a one year high of $618.95. The stock has a market capitalization of $112.47 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 1.66 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, beating 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 firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter last year, the company posted $7.11 EPS. The company's quarterly 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. As a group, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 annualized dividend and a yield of 2.7%. Lockheed Martin's dividend payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LMT. Bank of America decreased their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Alembic Global Advisors upgraded Lockheed Martin from a "neutral" rating to an "overweight" rating in a report on Thursday, August 28th. Royal Bank Of Canada cut their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Susquehanna decreased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $494.00.

Lockheed Martin Company Profile

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.