Lockheed Martin Corporation $LMT Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC has reduced its stake in Lockheed Martin by 2.7%, now holding 60,600 shares, making up only 0.8% of its portfolio.
• Several institutional investors significantly increased their positions in Lockheed Martin, with GAMMA Investing LLC boosting its holdings by over 41,000% during the 1st quarter.
• Lockheed Martin recently announced a quarterly dividend of $3.30 per share, with a dividend yield of 2.8%, set to pay on September 26th.

NorthCrest Asset Manangement LLC lessened its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,600 shares of the aerospace company's stock after selling 1,690 shares during the period. Lockheed Martin accounts for approximately 0.8% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 29th biggest holding. NorthCrest Asset Manangement LLC's holdings in Lockheed Martin were worth $28,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after acquiring an additional 1,986,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after acquiring an additional 560,457 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth about $221,790,000. AQR Capital Management LLC raised its position in shares of Lockheed Martin by 76.7% during the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock worth $361,045,000 after acquiring an additional 350,796 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Lockheed Martin by 17,506.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock worth $135,985,000 after acquiring an additional 302,684 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Ratings Changes

LMT has been the topic of a number of research reports. Bank of America dropped their price target 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. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Alembic Global Advisors upgraded Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. TD Cowen restated a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $494.00.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $473.29 on Thursday. The stock has a fifty day moving average price of $446.89 and a 200 day moving average price of $458.78. The stock has a market cap of $110.49 billion, a PE ratio of 26.65, a P/E/G ratio of 1.67 and a beta of 0.26. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 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.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.Lockheed Martin's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

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.

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