Lockheed Martin Corporation $LMT Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC cut its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,850 shares of the aerospace company's stock after selling 608 shares during the quarter. Lockheed Martin comprises 2.0% of RNC Capital Management LLC's portfolio, making the stock its 23rd biggest position. RNC Capital Management LLC's holdings in Lockheed Martin were worth $40,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Mid American Wealth Advisory Group Inc. acquired a new stake in Lockheed Martin during the second quarter worth about $28,000. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin in the first quarter worth about $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth about $34,000. GFG Capital LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth about $43,000. Finally, Bernard Wealth Management Corp. boosted its position in shares of Lockheed Martin by 251.9% in the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock worth $44,000 after buying an additional 68 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 0.6%

NYSE:LMT opened at $486.76 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The business's 50 day moving average is $475.56 and its two-hundred day moving average is $465.67. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $582.18. The company has a market cap of $113.64 billion, a PE ratio of 27.18, a P/E/G ratio of 2.14 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping analysts' consensus estimates of $6.33 by $0.62. Lockheed Martin had a return on equity of 112.13% and a net margin of 5.73%.The company had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. During the same quarter last year, the business posted $6.84 EPS. Lockheed Martin's quarterly revenue was up 8.8% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LMT. Morgan Stanley upped their target price on Lockheed Martin from $530.00 to $630.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Sanford C. Bernstein increased their price target on Lockheed Martin from $497.00 to $545.00 and gave the company a "market perform" rating in a report on Monday. Truist Financial increased their price target on Lockheed Martin from $440.00 to $500.00 and gave the company a "hold" rating in a report on Wednesday, October 15th. Finally, TD Cowen reissued a "hold" rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lockheed Martin has an average rating of "Hold" and a consensus target price of $513.47.

About Lockheed Martin

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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