Lockheed Martin Corporation $LMT Shares Sold by SeaCrest Wealth Management LLC

Key Points

• SeaCrest Wealth Management LLC has reduced its holdings in Lockheed Martin by 15.3%, now owning 3,155 shares valued at approximately $1.46 million.
• The company reported an EPS of $7.29 for the latest quarter, exceeding expectations, despite a slight decline in revenue to $18.16 billion compared to analyst predictions.
• Lockheed Martin declared a quarterly dividend of $3.30 per share, set to be paid on September 26, 2023, representing an annual yield of 2.8%.

SeaCrest Wealth Management LLC lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,155 shares of the aerospace company's stock after selling 571 shares during the period. SeaCrest Wealth Management LLC's holdings in Lockheed Martin were worth $1,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. 49 Wealth Management LLC increased its holdings in Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after acquiring an additional 22 shares during the period. OMNI 360 Wealth Inc. increased its holdings in Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after acquiring an additional 22 shares during the period. Tyler Stone Wealth Management increased its holdings in Lockheed Martin by 3.3% during the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after acquiring an additional 22 shares during the period. Tealwood Asset Management Inc. increased its holdings in Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after acquiring an additional 23 shares during the period. Finally, Southland Equity Partners LLC increased its holdings in Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 0.1%

Shares of LMT opened at $472.92 on Friday. The firm has a fifty day simple moving average of $447.18 and a two-hundred day simple moving average of $459.10. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. 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 stock has a market capitalization of $110.41 billion, a P/E ratio of 26.63, a PEG ratio of 1.67 and a beta of 0.26.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 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 net margin of 5.85% and a return on equity of 107.60%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current 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 paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LMT shares. Bank of America decreased their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Vertical Research reissued a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, Susquehanna decreased their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.

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