Gotham Asset Management LLC Sells 10,543 Shares of Lockheed Martin Corporation $LMT

Key Points

• Gotham Asset Management LLC reduced its stake in Lockheed Martin Corporation by 29.4%, selling 10,543 shares and leaving it with 25,341 shares valued at approximately $11.32 million.
• Lockheed Martin stock's current average target price is $494.00, with positions varying from "Strong Buy" to "Hold" from several brokerages.
• The company will pay a quarterly dividend of $3.30 per share on September 26th, representing an annual yield of 2.8%.

Gotham Asset Management LLC cut its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 29.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,341 shares of the aerospace company's stock after selling 10,543 shares during the period. Gotham Asset Management LLC's holdings in Lockheed Martin were worth $11,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC acquired a new position in shares of Lockheed Martin during the first quarter worth approximately $31,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the fourth quarter worth approximately $35,000. EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin during the first quarter worth approximately $43,000. Ritter Daniher Financial Advisory LLC DE acquired a new position in shares of Lockheed Martin during the first quarter worth approximately $45,000. Finally, Dagco Inc. acquired a new position in shares of Lockheed Martin during the first quarter worth approximately $50,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 1.5%

NYSE:LMT traded up $6.83 during trading hours on Friday, hitting $463.68. The stock had a trading volume of 1,464,488 shares, compared to its average volume of 1,394,402. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The company has a market cap of $108.25 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.63 and a beta of 0.26. The business's 50 day moving average is $446.34 and its 200-day moving average is $457.54.

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. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.8%. Lockheed Martin's dividend payout ratio is presently 74.32%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research reports. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. TD Cowen reiterated a "hold" rating and set a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Alembic Global Advisors raised shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. Vertical Research reissued a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada dropped their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin 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.