Lockheed Martin Corporation $LMT Shares Sold by Smith Chas P & Associates PA Cpas

Key Points

• Smith Chas P & Associates reduced its Lockheed Martin stake by 3.2% in the second quarter, selling 2,881 shares and retaining 88,040 shares valued at approximately $44.9 million.
• Analyst sentiment remains mixed but has recently improved: UBS upgraded the stock to “buy,” while the consensus rating is “hold” with an average price target of $637.56.
• Lockheed Martin reported better-than-expected quarterly results, with $7.94 EPS and $20.06 billion in revenue, and declared a $3.45 quarterly dividend, equivalent to a 2.6% annual yield.

Smith Chas P & Associates PA Cpas lowered its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 88,040 shares of the aerospace company's stock after selling 2,881 shares during the period. Lockheed Martin accounts for approximately 2.2% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 19th biggest holding. Smith Chas P & Associates PA Cpas' holdings in Lockheed Martin were worth $44,853,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LMT. California State Teachers Retirement System raised its stake in Lockheed Martin by 49,985.5% during the second quarter. California State Teachers Retirement System now owns 163,027,709 shares of the aerospace company's stock valued at $83,056,097,000 after buying an additional 162,702,210 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Lockheed Martin in the 2nd quarter worth approximately $9,617,574,000. Corient Private Wealth LP acquired a new position in shares of Lockheed Martin in the 2nd quarter worth approximately $101,960,000. Bank of New York Mellon Corp bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $645,258,000. Finally, Legal & General Group Plc bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $497,469,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LMT. UBS Group raised Lockheed Martin from a "neutral" rating to a "buy" rating and upped their price target for the company from $581.00 to $674.00 in a research report on Tuesday. Robert W. Baird set a $700.00 price objective on shares of Lockheed Martin in a report on Friday, July 24th. Weiss Ratings upgraded shares of Lockheed Martin from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Royal Bank Of Canada increased their target price on shares of Lockheed Martin from $575.00 to $600.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Finally, Morgan Stanley raised their price target on shares of Lockheed Martin from $653.00 to $690.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $637.56.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $5.72 during trading on Friday, hitting $524.40. 986,560 shares of the company traded hands, compared to its average volume of 1,480,927. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 2.34. The business's fifty day moving average is $556.35 and its 200-day moving average is $566.15. The stock has a market capitalization of $121.03 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.14 and a beta of 0.10. Lockheed Martin Corporation has a one year low of $437.25 and a one year high of $692.00.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The business had revenue of $20.06 billion for the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter last year, the business posted $1.46 EPS. The business's revenue was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. As a group, equities analysts predict that Lockheed Martin Corporation will post 30.39 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin's dividend payout ratio (DPR) is presently 50.87%.

About Lockheed Martin

Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

The company's products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.

Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.

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